Mangazeya Mining Ltd. is engaged in exploring for precious metals, development of ore and placer gold deposits, and production of precious metals. The Company focuses on the subsoil areas in the Russian Federation. The Company holds three licenses through the three operating companies: Mangazeya Mining LLC, Dalsvetmet LLC (Dalsvetmet) and Koryakmining LLC (Koryakmining). Mangazeya Mining LLC holds one license on Ildikanskaya Area in Zabaikalsky Krai. Mangazeya Mining LLC has the exploration and mining rights for the Ildikan license area (including the Savkino Mine). The Company is engaged in gold production at the Savkino Mine. Dalsvetmet holds one license for exploration and mining in Nasedkino, located in the central part of Uryum license area. Koryakmining holds Zolin-Arkiinsk exploration and mining license.