Economics Karachay-Cherkessia

South Korean company “Samsung UK. Ltd” starts mining of natural resources of Karachaevo-Cherkessia

21.01.2006 Editor

KARACHAEVO-CHERKESSIA, 20 January, Caucasus Times. On Friday President of Karachaevo-Cherkessia Mustafa Batdyev met the representatives of the South Korean company “Samsung UK. Ltd” which displayed interest in natural resources of the republic and is planning to start mining of natural resources of Karachaevo-Cherkessia.

Press service of the President of Karachaevo-Cherkessia told CaucasusTimes correspondent that President Mustafa Batdyev and representatives of company “Samsung UK. Ltd” signed a memorandum on locating deposits and mining of mineral resources as well as non-ferrous and precious metals and other natural resources.

Also, the company received an exclusive licence enabling locating deposits and mining of mineral raw materials.

In late 2005 experts from “Samsung UK Ltd.” visited Karachevo-Cherkessia and came to a positive conclusion about the depths of the republic. After that company started exploring the expediency of exploitation of a number of mines on the territory of republic.

Caucasus Times

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