OREANDA-NEWS. December 2, 2009. Public hearings relating to the Declaration of Intent for the development of the Lunnoe deposit took place in the township of Aldan in Sakha Republic (Yakutia). The development plans received full support of the local population and authorities responsible for industrial and environmental safety.

With news media present, representatives of Lunnoe, ARMZ Uranium Holding Co, and Zoloto Seligdara (Gold of Seligdar) told the meeting about plans to develop the project and about the importance thereof for the social and economic development of the region. Special attention was drawn to the environmental impact assessment of the project: the project’s next stage suggests the need to develop and present to the public in 2010 an Environmental Impact Assessment Report, as well as measures to minimize the adverse effect of the project on the environment.

Lunnoe closed joint stock company with reserves of 800 tons of uranium and 13 tons of gold develops the Lunnoe deposit and is a parity-based mine of ARMZ Uranium Holding Co. and Zoloto Seligdara (Gold of Seligdar). After it reaches stable state production in 2016, the mine is slated to produce, on an annual basis, up to 100 tons of uranium and 1 ton of gold.