PRESS: Rosatom partners with GV Gold at Sukhoi Log gold auction

MOSCOW, Dec 23 (PRIME) -- Russian nuclear power corporation Rosatom has become a partner of gold producer GV Gold at an auction to develop the Sukhoi Log gold deposit in the Irkutsk Region, Kommersant business daily reported Friday citing sources.

Rosatom’s EGMK-Proekt has received a 25% stake in Bodaibinskaya mining company, created by GV Gold in August. This company will soon file a bid for the auction, sources familiar with the situation said.

Sources said that GV Gold had already applied to foreign banks for financing.

Natural Resources and Environment Minister Sergei Donskoi said on Thursday that SL Zoloto, a joint venture of industrial corporation Rostec and gold producer Polyus, and Zoloto Bodaibo have agreed to pay an 8.5 billion ruble deposit each to participate in an auction for Sukhoi Log.

The deposit payment is an obligatory for participation in the auction. Donskoi said that the companies have not yet sent bids for the auction to the mineral resources agency.

Bids will be accepted until December 28. The auction is scheduled for January 26, 2017.

The inferred resources of Sukhoi Log under B, C1 and C2 categories amount to 1,953 tonnes of gold and 1,541 tonnes of silver, and off-balance gold resources stand at 799 tonnes.

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