During the 9th Eastern Economic Forum in Vladivostok, a letter of intent was signed between the Government of the Chukotka Autonomous Area and SIBGEO LLC for the implementation of an investment project for gold extraction in the region. This was reported by the press service of the Government of Chukotka Autonomous Area.

The investor intends to implement a project to develop the large Tumannoye gold deposit. A total of four phases are envisioned. It is expected that this year, search and assessment geological exploration work will begin, along with the accounting of gold reserves. Exploratory and pilot industrial work is scheduled to take place from 2026 to 2028. Following that, the design and construction of a mining and processing plant are planned, with commissioning expected by 2030.

Sibgeo LLC is a junior company that is part of an investment group successfully implementing projects in the field of solid mineral resources at various stages of exploration. The group's portfolio includes participation in more than 10 projects involving deposits and occurrences of precious, non-ferrous and rare metals.

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