MOSCOW (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)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app