“Pole” and “rostec” bought Dry a Log without a fight at auction

“Pole” and “rostec” bought Dry a Log without a fight at auction

Moscow. 26 Jan. Gold Deposit Sukhoi Log is sold to the joint venture “the Pole” and Corporation “rostec” “SL Gold” for 9,406 billion rubles, told journalists the Minister of natural resources Sergey Donskoy.

The auction was done in just one step. As a result, the price increased by only 10% – from 8.55 billion rubles to 9,406 billion. “the auction Winner on the largest gold Deposit Sukhoi Log was the “SL-Gold”. In the Federal budget as a result of the auction will go to 9 billion 406 million rubles”, – he said.

Applications for participation in the auction was submitted by only two companies: “CL Gold” and “Gold Bodaybo”. “CL Gold” joint venture “the Pole” (51%) and “assistance” (49%). “Gold Bodaibo” is the structure businessman Ibrahim Palankova associated with the former shareholders of Polyus Gold International Ltd – the parent company of Polyus, and VTB Bank. Formally, the applicants are not related, but on the market tend to think of SP Palankova and VTB insurance policy “Poles” (if the application was only one auction would be declared invalid).

Other potential contenders for the Sukhoi Log – Polymetal, Nordgold, Kinross Gold decided not to participate in the auction. Sukhoy Log – one of the world’s largest gold deposits. According to the Russian classification reserves of the Sukhoy Log are 1,943 thousand tons of gold and 1,533 thousand tons of silver, off-balance reserves – 741 is still a ton of gold.