Two Russian firms sign deposit deal for Sukhoi Log sale

MOSCOW, Dec 22 (PRIME) -- SL Zoloto, a joint venture of Rostec and Polyus, and Zoloto Bodaibo have agreed to pay a 8.5 billion ruble deposit each to participate in an auction for a license to develop Russia’s largest gold deposit Sukhoi Log, Natural Resources and Environment Minister Sergei Donskoi told reporters on Thursday.

“SL Zoloto and OOO Zoloto Bodaibo have signed agreements with the Federal Mineral Resources Agency to provide a deposit and must soon make transactions in the amount of the starting payment, I mean, 8.5 billion rubles,” Donskoi said.

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.

Gold producers Polyus, Polymetal, Nordgold, Kinross, GV Gold, and state industrial corporation Rostec showed interest in the field.

(61.1092 rubles – U.S. $1)

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