Exploration spending in Krasnoyarsk to quadruple in 2007
Investment in geological exploration in the Krasnoyarsk region will quadruple this year, to 22
billion rubles, a source at the regional office of the Federal Subsurface Resources Agency told Interfax.
Up to 12 billion rubles of this money will be invested in the oil and gas sector.
Government-funded investment is also expected to quadruple, to over 1.5 billion rubles.
Funding will increase substantially for exploration of gold, bauxite, molybdenum, tungsten and rare-earth metals, the official said.
Information from: www.interfax.com
