MOSCOW, September 15. /TASS/. Russian President Vladimir Putin has decreed to authorize transactions involving shares of the Udokan Copper holding company.
"Pursuant to Paragraph 5 of Decree of the President of the Russian Federation No. 520 dated August 5, 2022, 'On the application of special economic measures in the financial and fuel and energy sectors in connection with unfriendly actions by certain foreign states and international organizations', transactions (operations) that directly and/or indirectly entail the establishment, modification, termination, or encumbrance of rights of possession, use, and/or disposal of shares of the joint-stock company Holding Company Udokan Copper are permitted," the document said.
The Russian President’s decree notes that no other permits or approvals required by law are necessary to carry out the specified transactions.
Udokan Copper was established in 2008 to develop the Udokan Copper Deposit in Kalar District of Russia’s Trans-Baikal Region. Udokan’s resources exceed 26 mln tons of copper.