China United Mining Co to mine gold in Russia's Magadan region

VLADIVOSTOK, May 29 (Itar-Tass) -- China United Mining Co will begin
mining gold at the Tokhto deposit in Russia's Far Eastern Magadan region
in 2011, Zhao Li Zhi, the director general of the Chinese company, said on
Saturday at a meeting with governor of the Magada region Nikolai Dudov.
"Our company invests big money in its production facilities in
America, Africa, East Asia. In Russia, we are interested in many projects
but chose the one in the Magadan region because we think it most promising
in terms of investments," he said.
According to Zhao Li Zhi, experts from his company will arrive to the
Magadan region within a month.
The Tokhto deposit is located 22 kilometers away from the settlement
of Ust-Srednekan. According to prospecting survey of 2007-2008, the
deposit has seven ore bodies. Estimated reserves in the Srednekan district
stand at 400 tons.