Elkonskiy Iron and Steel Works has purchased a license to develop and extract gold at the Sovinoye deposit.
The cost of the license is 24.2 million rubles.
The reserves of the deposit are estimated at 10 tons of gold with the average content of 10 g per ton.
The Sovinoye deposit is situated in Chukotka Autonomous District.
It was discovered in the 1970s. (Ukrainian metal)