OREANDA-NEWS. On 17 June 2008 was announced, that Sorsk Mining and Processing Complex LLC included in the group of companies Strikeforce Mining and Resources Ltd (part of Basic Element Resource Sector) submitted a bid for participation in the tender for the right to use resources of Udokanskoye deposit located in Kalarsky Area of Zabaykalsky Region to the Federal Subsurface Management Agency (Rosnedra).

The bid for participation in the tender was submitted within the stated time – June 11, 2008 in accordance with conditions of the tender.

According to Managing Company SMR CEO Dr. Geoffrey Peter Cowley, the company intends to expand its resource base and diversify production significantly, that is why SMR is considering acquisition of rights for Udokanskoye deposit as one of most substantial steps in the area of implementation of its business strategy.

“Currently SMR together with leading Russian and international specialised research and development organizations is elaborating a programme for overall development of Udokanskoye deposit. In its proposal the company is trying to consider interests of all involved parties including local community”, emphasised Dr. Cowley.

Development of Udokanskoye deposit, which is one of the largest copper deposits in the world, will result in overall enhancement of the entire Zabaykalsky Region including creation of modern engineering infrastructure, creation of a great number of new jobs, implementation of new social programmes, which will ultimately result in a significant growth of investment attractiveness of the region.