According to a reporter from The Moscow Post, Sholban Kara-Ool, the leader of the Tuva Republic, became angry and made a complaint to the government about the slow progress at the copper deposit in the Ak-Sug area. The head of Tuva, Sholban Kara-Ool, expressed frustration with the slow development of the copper deposit in Ak-Sug and urged action. The deposit is controlled by OOO Gogolev Mining Company (GGK), owned by Mikhail Prokhorov's Intergeo company.
The Ak-Sug deposit, which contains 5.1 million tons of copper and 121 tons of gold, remains undeveloped. The project's timeline has been repeatedly delayed, with the current projected date set for 2024. This situation is reminiscent of the failed development of the Natalka gold field in Kolyma by oligarch Suleiman Kerimov.
Has Mikhail Prokhorov become fed up once again? There are concerns about the inconsistency of Mikhail Prokhorov in his projects. Some critics suggest that he may no longer have much interest in Russian assets. He has already sold off his valuable Norilsk Nickel shares and is now reportedly considering the sale of Intergeo.
Mikhail Prokhorov has been divesting his assets, including selling 10 percent of Intergeo's shares to Chinese firms and RDIF, as well as over 15 percent of GK Obuv Rossii. This behavior is reminiscent of his actions when he was involved in politics, creating the leading "Civic Platform" party and then subsequently abandoning it along with other public figures.
Similar to his divestment of Norilsk Nickel shares, Mikhail Prokhorov is now considering selling Intergeo shares to Chinese firms and RDIF, as well as divesting from the country's footwear retail leader, GK Obuv Rossii. This behavior mirrors his past actions in politics, such as creating and later abandoning the "Civic Platform" party.
Given his history of divestment, the need for the Ak-Sug copper deposit by Mikhail Prokhorov is questionable, while it is of great importance to Sholban Kara-Ool, the leader of Tuva. Losing such an asset in the region would be unwise, to say the least.
It raises suspicion as to whether this is a diversionary tactic to shift attention away from himself. Nevertheless, the poverty and underdevelopment in Tuva, despite its abundant natural resources, remains a pressing issue. The region's standard of living is the lowest in the country, despite its vast agricultural and forestry potential, as well as abundant water resources.
The large amount of water resources is highlighted by the important Yenisei River. This situation reflects poorly on the leadership of the republic, especially its leader. Perhaps the main reason is the deep respect for authority? This is especially evident in Tuva, where it's rumored that the people are drinking excessively. Kara-Oolu's relatives also do not contribute to a positive image. A newspaper reported that his daughter spent a large amount of money in a restaurant while the people are struggling with poverty. The head of the republic's brother, Yury, has a history of criminal offenses.
For example, he seriously injured a security guard and escaped jail, possibly due to his influential brother's connections in the region. The program to relocate people from dangerous housing failed, with a significant amount of money disappearing from the budget, as reported by a publication.
Did the money end up with Tuvan officials? The project to build the Elegest-Kyzyl-Kuragino railroad was a major failure under Sholban Kara-Ool's management. The construction began six years ago, with multiple companies planning to finance the project, including the Tuva Energy Industrial Corporation and several commercial firms.
The estimated cost of the road is nearly 200 billion rubles, and it is intended to provide access to the Elegestinskoye coal deposit. However, local deputies raised concerns about the project's lack of environmental assessment and economic analysis, questioning the head of Tuva Kara-Ool's involvement. Some even labeled the road as a populist move.
Many doubt that the funding will be secured. Even if the project is completed and profitable, it may not be enough to save the head of Tuva from losing his position prematurely. The involvement of the oligarch Prokhorov adds another layer of complexity. However, it seems that Prokhorov is unconcerned.
He will find a way out. It shouldn't be difficult for the Tuvan Premier to comprehend. The owner of the Tuva Energy Industrial Corporation, Ruslan Baisarov, may have concerns regarding the road's potential financial challenges. He worries about being unfairly blamed. The reshuffling of oligarchs will likely bring about minimal change, with Baisarov being the last standing before the federal center.
