https://www.engineeringnews.co.za
Business|Gold
Business|Gold
business|gold

Polyus to buy out partner in Sukhoi Log

23rd September 2020

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Russia’s largest gold producer, Polyus, on Wednesday announced that it would exercise its right to accelerate the buyout of RT Business Development’s participation interest in SL Gold – the holder of the Sukhoi Log deposit and licence.

The company would consolidate its participation interest from 78% to 100% for a total consideration of $128.2-million, the London-listed producer said.

Sukhoi Log, in the Irkutsk region of eastern Siberia, is one of the largest untapped gold deposits in the world. Polyus previously said that a mine at Sukhoi Log would cost between $2-billion and $2.5-billion.

The Russian State Commission on Mineral Reserves has estimated Sukhoi Log’s gold reserves at 930.3-million tonnes of ore, grading 2.1 g/t of gold for 62.8-million troy ounces of contained gold.

Edited by Creamer Media Reporter

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.075 0.132s - 158pq - 2rq
Subscribe Now