Moscow: Chinese company China National Gold will invest about $420 million in the development of the<\/b>
\nMoscow: Chinese company China National Gold will invest about $420 million in the development of the Klyuchevskoye gold deposit in Russia, while another $65 million will be invested by India\u2019s SUN Gold. The annual production volume is expected at about 6.5 metric tons of gold per year, the Russian Industry and Trade Ministry said on Friday.
According to the ministry, during the meeting of the Russian-Chinese subcommittee on industrial cooperation, the Chinese company China National Gold and JSC West Keys signed contract documents for the transition to the practical implementation of the Klyuchevskoye gold deposit development project.
\u201cThe implementation of the project involves attracting Chinese investments of about $420 million. India\u2019s SUN Gold plans to invest an additional $65 million in the project,\u201d the ministry said in a statement.
\u201cAn annual output of about 6.5 metric tons of gold per year will give a powerful impetus to the development of the economy of the Zabaikalsky Territory (in Russia\u2019s south-east Siberia) and will increase the total extraction of precious metals in the region by 40 per cent by 2020,\u201d the statement cited Industry and Trade Minister Denis Manturov as saying.<\/p>\n

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