Participation of the Corporation in implementation of International, Federal and Regional programs
The company acts as an intermediary, consultant and/or agent for governmental and official institutions, financial, industrial and commercial organizations, actively participates in performance of international, federal and inter-agent agreements on realization of large-scale financial and economic and industrial projects and programs, according to Decrees and Resolutions of the Government of the Russian Federation, the Agents of the Russian Federation and the Intergovernmental Agreements related to especially important and socially significant State programs and projects:
- in 1995 the Company developed and presented to the Government of Russia the “Capital Increase Program” (hereinafter referred to as the “Program”). The Program is based on carrying out operations with securities in the international financial markets ensured by tangible assets such as precious metals and jewels, which belong to the treasury and are used as security amounting to about $ 5 billion for realization of financial operations stipulated by the project, without increasing the total debt of the country for investing into the economy of Russia. The program has passed an independent expert appraisal, has been approved, coordinated and adopted by the Presidential Affairs Department of the Russian Federation, the Fund of Presidential Programs of the Russian Federation, the Ministries and the Departments of the Russian Federation which directly participate in execution of the program.
The corresponding provisions are fixed in all contractual documents of the participants of the parties.
- in development of the “Capital Increase Program” in 1996 the Company has developed and presented to the Government of the Russian Federation the project with the analytical report “Development and strengthening of financial and economic sector of the economy of Russia”. On this mater, the President of the Russian Federation on May 23, 1996 ÏÐ-1033 and the Chairman of the Government of the Russian Federation on May 25, 1996 Â×-Ï13-17491 gave control instructions to the Department of Finance, Budget and Monetary Circulation of the Government of the Russian Federation, the Ministry of Finance of the Russian Federation, the State Committee of Precious Metals and Precious Stones. According to the conclusion of the Government of Russia solution of problems stated in the project allows maximally increasing the real volume of processing and turnover of diamonds and brilliants, solving social matters, and it will substantively allow increasing at least twice the return to the budget.
Statutory acts were adopted in 1996.
- In compliance with the General Agreement between the Government of Republic of Buryatia and Korben International Industrial and Financial Corporation, Inc. dated 24.09.1998, the Company acts as agent of the Government of the Republic of Buryatia and represents the interests of the Republic in international financial and stock markets (the Decree of the President of the Republic of Buryatia dated 17.07.1997 No. 178).
- The Company participates in execution of the target program “Mineral and Raw Material Complex”, “Federal Program of Social and Economic Development of the Republic of Buryatia”, carried out in accordance with the Decree of the President of the Russian Federation dated 29.05.1995 No. 543, Resolution of the Government of the Russian Federation dated 15.04.1996 No. 442 and dated 27.12.1996 No. 1573, the Decree of the President of the Republic of Buryatia dated 17.06.1997 No. 178 and the Resolution of the Government of the Republic of Buryatia dated 12.08.1997 No. 286.
- Since August 2001, the Company carries out works on development of the world’s largest lead and zinc deposit with the high level of contents of the end product amounting to 13 % from the mining weight, and confirmed stocks of development for 130 years. The abovementioned deposit will provide the US export to Japan, China, South Korea, the countries of Latin America, etc., taking into account the increasing deficiency of lead and zinc in the world which amounts to 60 %.
- The Company carries out works on the “Synyrity” project on development of deposits of potassium fertilizers with the high level of profitability in the area of pass of the North Baikal district of the Republic of Buryatia.
Functions of the Technical Customer on the “Mineral and Raw Material Complex” projects are carried out by the Committee of Natural Resources of the Republic of Buryatia at the Ministry of Natural Resources of the Russian Federation.
- The company has entered into Agreement with the Agency on export of isotopes in compliance with which it will participate in development and realization of investment projects and development programs in Russia of the enterprises related to manufacture of stable isotopes, manufacturing of finished goods on them and their selling in the market of North America and Europe (the project is in developmental stage).