Polyus to buy out partner in Sukhoi Log project

Russia’s largest gold producer Polyus will buy the remaining 22% stake in the giant Sukhoi Log gold deposit in Siberia that it does not already own from its project partner Rostec for $128 million, the firm said on Wednesday.
The companies bought the rights to develop Sukhoi Log, estimated to contain a fifth of Russia’s gold reserves, from the Russian state in 2017. The feasibility study and final investment decision for the project are expected in 2021.
Polyus previously estimated the cost of the project at $2-2.5 billion.
(By Polina Devitt; Editing by Jan Harvey)
More News
Gold equities going under investors’ radar as metal continues to rise: Peter Schiff
One factor behind the undervaluation of gold mining stocks today is the inflation pressure from last year, says the gold bull.
April 03, 2025 | 02:50 pm
Kazakhstan says it has discovered 20 million ton rare earth metals deposit
If confirmed, the deposit would place Kazakhstan behind only China and Brazil by size of reserves.
April 03, 2025 | 01:40 pm
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments