Polyus Gold to take part in auction for Sukhoi Log in case of its holding

Polyus Gold is awaiting the regulator’s decision about the auction for the largest Russian gold deposit of Sukhoi Log located in the Irkutsk region, and when it happens it will participate in it. This was reported by general director of Polyus Gold, Pavel Grachev during a conference call.

Today the company has active production plus energy infrastructure at the Verninskoye deposit, which is located only 15 km from Sukhoi Log, said the general director. "Neither we, nor the market know whether, when and under what conditions the auction for the deposit will be announced. But if it happens, of course, it would be strange if Polyus Gold wouldn’t take part in the relevant tender, given the fact that Sukhoi Log is only 15 km from our existing asset – Verninskoye, where Polyus Gold has launched additional energy infrastructure, which other companies don’t have. Besides, Sukhoi Log itself corresponds to the profile of assets, in which Polyus Gold is engaged, namely large-scale assets with open-pit mining. Accordingly, we wait for any news from the regulator, and in the case of the license being offered  at auction we will take part,"- said Grachev.