Rosnedra, the Federal District Subsoil Resources Agency, announced an auction on January 31, 2006. Bids are to be made by those willing to do a geological research and deal in gold mining on Khioninskiy patch located in the town of Kushva.

The auction was postponed from December 22. 2005 due to the failure of the applicants to place a deposit with their applications.

As the spokesperson for Uralnedra, Ural Federal District Subsoil Resources Agency, said to the agency’s representative, four applications were regarded as valid but the applicants didn’t place the required deposits. Consequently, the deadline for deposit payment was put off till January 25. The applications had been sent by Zabaikalskaya Zoloto-razvedochnaya Kompaniya PLC (Gold Exploring Company of Zabaikalye), Uralelectromed (Ural Electrical Copper Mining) JSC, Uralskiye Accumulyatori (Ural Accumulators) PLC, Gornodobivayushchaya Kompaniya Sibir (Siberian Mining Company) PLC.