GOLD OUTPUT FELL IN '92
MOSCOW - Russian gold prospecting cooperatives, which broke away from the large state enterprises, extracted 70.2 metric tons of placer gold last year, about half the 140 tons produced in the previous year, according to information released by the Union of Gold Prospectors' Cooperatives and reported by Interfax news agency.
Placer gold, which is gold that has been eroded from the original bedrock and can be mined by washing, dredging, or other hydraulic methods, accounts for most of Russian gold production.
The cooperatives operate in 12 regions of Russia, mainly in Magadan near the Pacific coast, where 20 tons were extracted, and in Yakutia in eastern Siberia, with 17.3 tons.
Overall, the 250 Russian prospectors' cooperatives in 1992 generated $1 billion worth of product.
RUSSIAN FIRM PLANS
JOINT ANTIMONY VENTURE
MOSCOW - The Russian company Molibden has announced plans to cooperate with the U.S. firm, L and C Enterprises, and the Dutch Sovtrade Niederland Ltd. to begin antimony production in Russia, according to Interfax news agency.
Russia has no antimony production facilities of its own.
The project requires an investment of $35 million. No list of potential investors has been compiled, but the Russian company said it hoped to raise the funds either through low-interest government loans or through private Western investment.
A plant outside Moscow is being reconstructed to begin producing pure antimony later this year with raw material from fields in Yakutia. The plant is expected to produce 10 metric tons of pure antimony a year, of which 4 tons will be exported.