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"Dry log" was given without bargaining

The largest deposit of precious metals of Russia was spent in favor of "SL Gold"

The auction for the right to use the Sukhoi Log field in Irkutsk was actually won by SL Gold LLC, a joint venture of the company Polyus and the Rostec state corporation, virtually without bargaining. According to expert estimates, the development of the field will require expenditures in the amount of 90-100 billion rubles and the use of innovative technologies. The project implementation, the authorities believe, will contribute to the integrated socio-economic development of the Irkutsk Region.

The largest gold deposit in Russia, Sukhoi Log, was raffled off on January 26. Two legal entities took part in the auction that submitted an application and made an initial payment for the use of subsoil in the amount of 8,5 billion rubles: LLC SL Gold, a joint venture RT-Business Development (a subsidiary of Rostec State Corporation) and PJSC Polyus "Saida Kerimova, and LLC" Zoloto Bodaibo "- a joint venture of VTB Group and structures of Ibragim Palankoyev. The official results of the auction will be announced by the end of February, obtaining a license will take three months or more. According to preliminary results, SL Gold won the competition, raising the price by just one auction step - 10% of the starting payment.

Sukhoi Log is one of the largest undeveloped fields in the world, located in the Bodaibo District of the Irkutsk Region. The predicted gold content, according to the Ministry of Natural Resources of the Russian Federation, is more than 1600 tons, silver - more than 1500 tons. For comparison, today's accumulation of gold in the gold and foreign exchange reserves of Russia is 1476 tons. The share of Sukhoi Log in the total gold reserves of the country is 28%.

State Corporation Rostec, specializing in engineering and high technology, for the first time acquired a non-core asset associated with gold mining. The head of the state corporation, Sergey Chemezov, described the victory at the auction as “a great opportunity and responsibility” and noted that the project corresponds to the strategy of the state corporation’s development up to 2025 of the year. "Our company Giprotsvetmet made a full-scale project for the development of the Sukhoi Log field in 1996 year. We will use the competence in the implementation of mining projects of our own research and production center and will carry out significant work to create an optimal model for the development of the field," said Sergey Chemezov. Exploration and feasibility studies can take three to four years, he said.

According to expert estimates, more than 80% of Sukhoy Log stocks can be worked out in the most economical way - in an open-pit way. The term of such working off is about 33 years. Testing residual reserves using the underground method will be 20 years. At the same time, the field is characterized by a complex structure, and its development is a very laborious matter. The relatively low average gold grade in the ore (of the order of 2-3 g per ton) and its complex composition require the use of innovative technologies, including those not commercially developed. Experts believe that in order to achieve acceptable economic indicators, more than 30 mln tons of ore will be required per year, while the largest ore mined in Russia’s Olympic Olimpiada gold deposit in the Krasnoyarsk Territory is no more than 8 mln tons per year.

However, the authorities are optimistic.

"The implementation of this major project will have a powerful effect on the socio-economic development of the region and the entire macro-region, accelerate the development of related industries. The infrastructure created in the mining of gold and silver will further allow the extraction of other minerals. The project provides for additional exploration, and we can count on significant increase in reserves of gold, silver and other types of raw materials, "- said the head of the Ministry of Natural Resources of Russia Sergei Donskoy. According to the minister, the development of the Sukhoi Log deposit will provide the federal budget and the budget of the Irkutsk region annually with more than 8 billion rubles, will create about 4 thousand jobs in the main production and about 10 thousand additional jobs. For development, a powerful transport, energy and social infrastructure will be formed in the region. The development of the deposit will ensure the flow of large investments into the region in the gold mining and related industries.

In the government of the Irkutsk region, the development of the Dry Log is considered as a catalyst for the development of the transport system in the region. According to the Governor Sergei Levchenko, with the start of production at the field passenger and traffic to the north of the region will grow at times. And this requires urgent repair and modernization of both the regional Bodaybo airport and the Irkutsk regional airport. "I think that in principle issues of roads, electricity (which is obtained at diesel stations in each settlement autonomously) can be resolved after the start of normal production not at those fields that are close to closure, but with the beginning of the development of the Dry Log." Bodaibo can only breathe new life into Bodaibo So, "- said at a meeting with representatives of regional media head of the Irkutsk region.
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