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Metals group OAO Metalloinvest Holding secured the tender to develop the deposit earlier in September, saying it plans to invest RUB100 billion ($3.9 billion) in the project.
The Udokan deposit is one of the world's largest undeveloped copper deposits with 1.31 billion metric tons of mineable ore and an estimated 19.7 million tons of copper at an ore grade of 1.51%.
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-By Moscow Bureau, Dow Jones Newswires; +7 495 937 8445
(END) Dow Jones Newswires
09-22-08 1039ET
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