JV of Rostekh and Polyus has purchased “Sukhoi Log” for 9.4 bln roubles

Nadezhda Ivanova's picture

The auction for “Sukhoi Log” was won by the JV of Rostekh and Polyus – SL-Zoloto having paid 9.4 bln roubles, the Minister of Natural Resources, S. Donskoi, said.

The auction was held with one round. The value of the asset grew by 10% - 855 mln roubles.

The realization of this project will have a strong impact on the socio-economic development of the Irkutsk region and the entire macro-region, will accelerate the development of the connected sectors. In future the constructed infrastructure will allow to extract other mineral resources. The project presupposes the additional exploration and we will be able to hope for a significant growth of gold, silver resources as well as other types of raw materials. The Ministry of Natural Resources will control the realization of the project at all stages so as to provide the execution of all license requirements, meeting the  nature preserving law, Mr. Donskoi said.

The stake of “Sukhoi Log” is about 28% of all gold reserves in Russia.

The start-up price of the deposit was $145 mln, which is by 10 times lower than the value of similar deposits.


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