16 Sep '10
The federal subsurface management agency Rosnedra has announced an open auction to sell an extraction license on Zapadny field of the Western part of the Ulug-Khemsky coal basin in the Republic of Tuva.
The starting price for the lot is reportedly set at $16.7m.
The field reserves are estimated at 101.924 million tons of coal.
The auction is scheduled to take place on December 6, 2010.