OJSC Polyus Gold said it has won an auction on entrails usage licences for Kuzeyevskiy ore field in the Sukhobzimskiy district of the Krasnoyarsk region for about 1.5 mln usd.

The total area of Kuzeyevskiy field is 169.7 square kilometers, the company said adding the total investments in exploration works during 2008-2012 will amount to 17.3 mln usd.

Polyus Gold currently produces over 25 tonnes of gold in the region alone.

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Posted: 12|5|07 at 4:21 pm. Filed under: Auction News.