14 Jan '11
The federal subsurface management agency Rosnedra has announced an open auction to sell a license to explore the only in Russia Malobystrinsky lazurite deposit, located in Irkutsk region.
The starting price for the 20-year license is reportedly set at $2.7m.
The auction is scheduled to take place on April 8, 2011.
The lazurite reserves at the deposit are estimated at 7,277 tons under C1+C2 categories.