NEWS ROUNDUP — Morrison Knudsen in Soviet venture

For the first time, a joint venture has been signed between the U.S. and a republic of the former Soviet Union.

Morrison Knudsen (NYSE) has signed an agreement with the state-owned mining corporation Kyrgyzaltyn to develop a gold deposit in Kyrgyzstan. Morrison will carry out mining and feasibility studies on a deposit that contains an estimated 2.6 million oz. gold.

The partners hope to be producing 150,000 oz. per year by 1995. Morrison is already participating in a gold mining venture in Mongolia.