Russian President Vladimir Putin announced a decision on one of the world's largest copper deposits in Siberia. According to him, investors from China may enter there.
Speaking at the plenary session of the XXIII annual meeting of the Valdai International Discussion Club, Putin noted that efforts to develop the Far East are purposeful and have been carried out for many years. This applies to Eastern Siberia, the Far East, and the Arctic. A working system of preferences for Russian and foreign businesses, for potential partners and investors, has been created there.
By the way, Chinese companies are among the most active operating in the Far East. And now a decision will be submitted to the government commission, and it is moving towards a positive decision, regarding one of the largest copper deposits in Russia, and indeed in the world. And Chinese investors may also enter there. This is in Siberia.
What is known about the deposit
This refers to the Udokan copper deposit in the Kalar district of the Zabaykalsky Krai. Its resources exceed 26 million tons of copper. Previously, according to the president's order, transactions with shares of the holding company Udokanskaya Med (formerly Baikalskaya Gornaya Kompaniya), created in 2008 to implement the development project, were permitted.
Preferences for the Far East
Putin also announced that from January 1 next year, all previously created support mechanisms will be combined into one. This will be a single preferential regime for almost the entire Far East. The president called this decision unprecedented.
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