Logo
  Sunday, March 29, 2020
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The Russian Ministry of Natural Resources has specified the list of deposits to be auctioned this year
Europe's largest gold deposit, Sukhoi Log in Siberia (estimated reserves 1,029 metric tons), is not on the list, Vedomosti writes. Irina Dumova, the deputy governor of the Irkutsk region, said the Sukhoi Log gold deposit may be sold in summer. It is not important that it is not on the revised list of the Natural Resources Ministry. Rinat Gizatulin, the ministry's press secretary, said the list could be revised within the year. The ministry only intends to allow foreign companies to buy Russian deposits as "junior partners" of Russian companies (i.e., if they hold less than 49% of the authorized capital). Russian investors are prepared to wait. Yelena Shcherbinina, a spokesperson of Norilsk Nickel, said her company plans to bid in the Sukhoi Log auction. But procrastination with the tender is not improving foreign investors' views on Russia, says Vitaly Nesis, the general director of Polimetall. This is a good time to sell gold and ore deposits, as the main bidders have enough free money, said Denis Nushtayev of Metropol. He believes that the state may demand about $900 million for a license to develop Sukhoi Log. Mr. Gizatulin says the revised list has been sent for coordination to the Ministry of Economic Development. It includes about 180 oil and gas fields and 65 major deposits of solid minerals. The Chayandinskoye gas field in Yakutia (C1+C2 reserves: 1,241 billion cubic meters of gas and 50 million tons of oil) is to be sold in May. The Titov oilfield (57.6 million tons), the Trebs oilfield (82.5 million tons) and four blocks of the Central Khoreiver Depression (aggregate reserves 95.8 million tons), all of them located in the Nenets autonomous area, are to be sold in September-October
Print The Russian Ministry of Natural Resources has specified the list of deposits to be auctioned this year Bookmark The Russian Ministry of Natural Resources has specified the list of deposits to be auctioned this year

Related News   
FebMarch 2005Apr
MoTuWeThFrSaSu
28123456
78910111213
14151617181920
21222324252627
28293031123
45678910