Gold reserves in Yakutia to be sold at auction

Russian Minister Announces Auction of Valuable Mineral Deposits

In an interview with TASS during the Eastern Economic Forum (VEF), Alexander Kozlov, head of the Russian Ministry of Natural Resources, has announced the planned auction for the use of subsoil resources in several valuable mineral deposits.

The deposits in question are located in Yakutia, a region in Russia, and include a placer gold deposit, the Arkachansky ore field, and a silver and gold ore deposit. The specific silver and gold ore deposit is not specified further in this paragraph.

The Arkachansky field, which contains two large placer gold deposits, is located in Yakutia, while the two large platinum-ore gold deposits in Chukotka are situated in the northeastern part of Russia. The Deputatsky ore node, part of the federal project 'Geology: Revival of the Legend', is also in Yakutia and is part of the ongoing auction process.

Applications for the auction on the flanks of the Deputatsky ore node in Yakutia are currently being considered, and the consideration of applications for the auction on the Arkachansky field and the placer gold deposits in Chukotka is yet to begin. An auction for the Arkachansky field with gold and silver ore reserves in Yakutia is planned for the end of 2025.

The predicted resources at the Deputatsky ore node include over 6.5 tons of silver, 328 thousand tons of lead, and 314 tons of zinc. The deposits in Yakutia and Chukotka are rich in gold, silver, lead, and zinc, making them highly sought-after resources.

However, no specific details about the expected bidders or the potential value of the deposits are provided. The minister's announcement has sparked interest in the mining industry, as these deposits could significantly contribute to Russia's economy if exploited effectively.

The Eastern Economic Forum (VEF) is an annual event aimed at promoting the development of the Far East of Russia and strengthening cooperation with other countries. The forum provides a platform for discussions on various economic, social, and political issues, making it an ideal context for such announcements.