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Russia's Rostec may sell 25 pct in Sukhoi Log JV to Polyus
December 26, 2016 / 9:00 PM / a year ago

Russia's Rostec may sell 25 pct in Sukhoi Log JV to Polyus

MOSCOW, Dec 27 (Reuters) - Russian state conglomerate Rostec would consider selling 25 percent in the joint venture created to develop giant Sukhoi Log gold deposit with Russia’s largest gold producer Polyus to the partner in the JV, Rostec’s head Sergei Chemezov said.

Sukhoi Log, one of the world’s largest untapped gold deposits, has remained undeveloped for half a century. Russia has been promising to sell the license for more than 20 years.

Russia is expected to hold an auction to sell the deposit in January. Rostec and Polyus had established the JV to take part in the auction. (Reporting by Gleb Stolyarov; writing by Vladimir Soldatkin; Editing by Katya Golubkova)

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