Cuba invites Russian mining companies to explore island
The Cuban government, through a Russian federal agency, is inviting Russian companies to invest on the exploration and mining of precious and base metals. The announcement appeared Thursday (March 5) on the website of Russia’s Federal Agency for Subsoil Use, known as Rosnedra.
Rosnedra operates under the Russian Ministry of Natural Resources and the Environment.
The offer consists of the following:
- An agreement on geological, technological and technical-economic studies (speculative) on the extraction of tungsten from the Isle of Youth.
- An agreement on geological, technological and technical-economic studies (speculative) on the extraction of mica and kaolin from the Isle of Youth.
- A joint venture for the extraction, processing and marketing of copper at the Hierro Mantua deposits in Pinar del Río province.
- An agreement on geological studies (speculative) on the extraction of precious metals (gold and silver), base metals (copper, lead, chromium and zinc) and other minerals in four regions: central Cuba, Ciego-Camaguey-Tunas, Holguín and the Sagua mountain range (Baracoa region), and Sierra Maestra.
For details on the location of the proposed sites, the extent of the exploration, the methods of research and other information, the Russian agency directs interested companies to the website of Cuba’s GeoMinera, S.A., which contains a Business Opportunities Portfolio for the Field of Geology and Mining in Cuba.
In its website, GeoMinera describes itself as a state-owned company created for the purpose of “establishing International Economic Associations (AEI) on national soil and abroad for the prospection, exploration, exploitation and processing of mineral fields and other products and services. It provides advisory and consulting services as well as technical services.”
