18 June 2004 08:47
BOLIDEN MAY INVEST $250 MLN IN KOMI MINING
SYKTYVKAR. June 18 (Interfax) - Swedish mining and metallurgy company Boliden may invest over $250 million in
developing the mining complex in Russia's Komi republic, a company representative said at a meeting with Nikolai
Livitsky, first deputy head of the Komi administration.
The source said that the company is interested in cooperating with Komi, which has rich copper reserves. He said that
if cooperation is successful, investment in developing the mining sector in the republic might amount to over $250
million, including about $10 million in geological exploration.
The company representative said that to properly evaluate the company's potential in the region is to necessary
to study in detail the results of geological research, tests and maps, study the Russian legislative base and establish
contacts with local companies.
In turn, Levitsky said that all of these issues could be resolved. "Everything depends on the seriousness of the
company's intent, for our part we will do everything possible to help invest funds in Komi," he said.
During the meeting the sides agreed that a final decision on the Swedish company investing in the region would be
reached in the fall, when experts from Boliden are again expected to visit the republic, after which a Komi delegation
will travel to Sweden.
[Interfax] |
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