July 11, 2008

Usmanov Firm Applies to Bid at Udokan Copper Tender

MOSCOW. July 11 (Interfax) - Mikhailovsky GOK (MGOK), a major iron ore producer from Russia's Kursk region and a member of billionaire Alisher Usmanov's Metalloinvest holding, has applied to bid at a tender for the rights to the big Udokan copper field in Russia's Chita region, a source at a profile agency told Interfax.

With the deadline just hours away, five companies have now filed bid applications: MGOK; Strikeforce Mining and Resources Ltd. (SMR), which is a subsidiary of the Basic Element holding's mineral resources division SoyuzMetalResource; Mikhail Prokhorov's Onexim Group; MMC Norilsk Nickel (RTS: GMKN); and the CJSC Russian Copper consortium, which includes Russian Railways (RZD) (RTS: RZHD), Urals Mining and Metallurgical Company (UMMC) and Russian Bank for Development and Foreign Economic Affairs (Vnesheconombank, VEB).

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