CORRECTION - China's CNG, India's SUN Gold To Invest $460Mln In Klyuchevskoe Gold Deposit In Russia

MOSCOW/KUNMING (UrduPoint News / Sputnik - 21st September, 2018) Chinese company China National Gold and India's SUN Gold will invest combined $460 million in the development of the Klyuchevskoye gold deposit in Russia, the annual production volume is expected at about 6.5 tons of gold per year, the Russian Industry and Trade Ministry said.

According to the ministry, during the meeting of the Russian-Chinese subcommittee on industrial cooperation, the Chinese company China National Gold and JSC West Keys signed contract documents for the transition to the practical implementation of the Klyuchevskoye gold deposit development project.

"The implementation of the project involves attracting investments of about $460 million. An annual output of about 6.5 tons of gold per year will give a powerful impetus to the development of the economy of the Zabaikalsky Territory [in Russia's south-east Siberia] and will increase the total extraction of precious metals in the region by 40 percent by 2020," the statement cited Industry and Trade Minister Denis Manturov as saying.