CONCESSIONS IN SIBERIA

Dominion, Volume 18, Issue 183, 5 May 1925, Page 9

CONCESSIONS IN SIBERIA

GRANTED BY SOVIET OVER LARGE AREAS NEW YORK INTERESTS TO PARTICIPATE Moscow, May 3. The representatives of the Soviet and the Lena Goldfields Company have signed the draft agreement for concessionary exploitation by the company (to be called the Lena Gold Enterprises) of a million and a half acres of gold, silver, copper, and. lead-bear-ing areas in the Lena, Altai, and Sissersk regions in Siberia. It is understood that important New York banking and mining interests will participate to a considerable extent in the operations of the company, which embraces the interests of a number of companies which before the war operated the mines covered by the present concession. Six per cent, of the total production will be payable to the Soviet. The company’s technical staff will be largely composed of British and American experts.—Reuter.

THE AREAS COVERED Moscow, May 3. The areas covered by the Lena gold concession are the mining districts of Altai, Zyrianovsk, Zmeinogorsk, and Irtish, copper and iron enterprises in the Sissersk and Revdinsk districts, and the Ural and Lena goldfields. The district of Ridder is excluded from the Altai concessions, because the Soviet decided that it would be the principal centre for the development of the national lead and zinc industry. The Government will submit to the All-Russian Congress of Soviets, opening on Mai’ 8, certain amendments and additions to the Russian Constitution, including an article granting the rights of the Soviet to foreign citizens and joint stock companies to apply private capital to the development of was operated the mines covered by the the economic resources of Russia.—Reu-