Siberia | Materials, extraction

Nafta's $6.1m Novosibirsk gold rush

29 Aug '08
Moscow-based metal extracting company Nafta Metall intends to spend $6.1m before the yearend on the development of gold deposits in the Maslyaninsky district of Novosibirsk Region, sources in the company report.

The company's chief geologist Alexander Samoylov said the planned investment would be used to finance geological surveys and purchases of equipment required.

Over the past few months the company has acquired around $6.5m worth of various assets in Novosibirsk Region, Mr Samoylov added.
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