Rostec and Polyus wait for auction for Sukhoi Log

As the Kommersant has got to know, Rostec and Polyus prepare to create a consortium for the development of the largest Russian gold deposit Sukhoi Log (130 million ounces of reserves and resources). The auction for the deposit is boosted by the Deputy Prime Minister Alexander Khloponin. Sources of the Kommersant say that there were also unexpected contenders - Alrosa and the former owner of Polyus Hazret Sovmen. But in Alrosa, according to the Kommersant’s information, the discussion of the project is "hypothetical" for a while, because it doesn’t fit into the strategy of the company.

Last week, the Deputy Prime Minister Alexander Khloponin, supervising subsoil, instructed the Ministry of Natural Resources and Rosnedra to "accelerate work" on the preparation of the auction on the largest undeveloped gold deposit of Russia Sukhoi Log (about 130 million ounces of reserves and resources) and to prepare a draft report to the president by mid-August, say the Kommersant’s sources, familiar with the situation. According to one of them, Mr. Khloponin refers to the positive resolution of Vladimir Putin to the appeal of Rostec’s head Chemezov in November 2015, in which he asked to "speed up the issue of the order for the auction" (must be issued by the Government). The Alexander Khloponin’s office declined to comment, the Ministry of Natural Resources was unable to respond quickly to the Kommersant’s questions.

Full text available to premium subscribers only.

Buy full access for 24 hours now


Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer