Russia will auction a license to develop the large tungsten and molybdenum field Tyrnyauzskoye in the republic of Kabardino-Balkaria until the end of 2017, the region’s head Yury Kokov said.
“The auction for provision of a license for development of the Tyrnyauzskoye field is scheduled for December 28-29. State corporation Rostec will participate in it among other companies, and I hope that they will win it and will start implementation of the project,” he said.
The deposit’s resources account for 40% of all discovered tungsten and molybdenum reserves of Russia. The project to relaunch production at the field may cost about 20 billion rubles. (Prime/Ukrainian metal)