Kamchatkas $230m commodity surveys aired | Far East, Materials, extraction MarchmontNews.com

Far East | Materials, extraction

Kamchatka’s $230m commodity surveys aired

8 Dec '09
Kamchatka has approved a $230+m regional program aimed at geological explorations over the next three years, RIA Novosti reports, citing a source in the regional government.

Of the amount, $22m is reportedly expected from federal coffers.

As a result of geological surveys planned, regional officials say, estimated reserves of natural resources are expected to grow by 10 billion cu. m of gas, 150 tons of gold, 25 tons of platinum, and 500,000 tons of nickel.

With the above achieved, Kamchatka will reportedly get another $6.7bn worth of estimated reserves of natural resources.