‘We are not going to put up Tarutinsky copper and porphyry deposit for an auction within the nearest future,’ said the spokesperson for licensing department of Chelyabinsk Region Territorial Agency of Subsoil Resources.

According to the spokesperson, the deposit is likely to be auctioneered no sooner than in one or two years.

Earlier, the license for the Tarutinsky deposit development was possessed by Tarutinsky Ore Mining and Processing Enterprise CJSC controlled by Eureka Mining of UK. In 2005 the license was withdrawn and the right of subsoil user was forfeited before the appointed time due to the user’s disregard of essential license provisions.