The Federal agency for subsoil management announces an auction for the right of subsoil use with a view of exploring and producing tungsten ores on the concealed deposit, located in the Dalnerechensk region of Primorsky Krai.

     The winner of the auction will be granted a licensed for the intended purpose of exploring and producing tungsten ores on the Licensed subsoil plot for a period of 20 years. Entrepreneurial entities as well as partnership members, foreign nationals and legal persons may participate in the auction.The Licensed subsoil plot is situated in the Dalnerechensk metropolitan region of Primorsky krai on the left bank of the middle stream of the Malinovka river  in a mountainous and taiga area 13 km southeast of the village of Ariadnoye.The subsoil plot area is 5.7 km². The Licensed plot area is free of especially protected natural terrains, ancestral grounds of national minorities and other lands of prohibited or restricted use.18 shallow dipping ore deposits were allotted and explored with different levels of detailed elaboration. The range varies from 100-200 to 800-1200 ?, average capacity – from 1.5-2.0 to 4-6 ?. The presence of tungsten trioxide into ore bodies fluctuates from hundredths to 4.58-5.72 %.As a result of the work executed on the deposit during the preliminary exploration the previously made conclusion on referring the Concealed tungsten deposit to the number of the large ones was reaffirmed.  The work was not completed due to the cessation of financing. In 1996 the Central Commission on Reserves took into account the off-balance reserves which amount to as follows: ore – 21276 thousand tons, tungsten trioxide – 95558 tons under ?₁+?₂ categories.The amount of the auction participation fee is 52 650 (fifty-two thousand six hundred and fifty) rubles and is to be transferred by the applicants to the Russian Federation budget in Russian currency. The one-time payment for the right of subsoil use is fixed at 27 000 000 (twenty-seven million) rubles.The bidding opens at 12.00 (local time) on November 29, 2006 in the city of Vladivostok.The applications are entertained after the payment of the auction participation fee till 16.00 (local time) on October 27, 2006.