SOCHI, October 8 (RIA Novosti) - An auction has been scheduled for next year's latter half to open up the Sukhoi Log goldfield, Yuri Trutnev, Russia's Natural Resource Minister, said to Novosti in Sochi, Black Sea coastal spa.
"We are not quite ready yet to meet the auction terms," he replied when asked why this long postponement.
Mr. Trutnev's ministry is coordinating with the Ministry of Economic Development and Trade economic terms on which goldfield prospecting and opening up will be licensed.
The Natural Resource Ministry intends to have another auction, for opening up the Udokan copper deposit, before this year's end.
The ministry will be ready within next week with a 2004-05 programme to auction licenses for mineral deposit prospecting and opening up. "We shall make it a point for all auctions to send [license] prices up not only thanks to high starting prices but through competition," stressed Mr. Trutnev.
