MOSCOW, January 20 (RIA Novosti) -- The Russian Natural Resources Ministry said Friday it intends to hold auctions for subsoil licenses in 2006, including 200 tenders for hydrocarbons and 800 for solid mineral deposits and underground water reservoirs.
The 2006 budget plan for one-off payments for the licenses was 20 billion rubles (about $707 million), the ministry said.
Last year, 600 mineral deposit licenses were auctioned off, and 16.5 billion rubles was spent on exploration work, compared with 10.7 billion rubles in 2004. A total of 17 new mineral deposits were discovered.
State investments into exploration would allow for a 50% growth in hydrocarbon reserves and for an increase in production of uranium, copper, nickel and rare metals, a statement from the ministry said.
