Work hard and you will find success

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GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

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30 august 2021

ALROSA has lodged no appeal to government regarding Sukhoi Log

18 august 2016
(Interfax.ru) – Russia-based diamond miner ALROSA is not so far mulling to take part in the auction for the Sukhoi Log gold field and has lodged no appeal to the government regarding this issue, reporters were told by Yury Trutnev, Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District overseeing the company.
“ALROSA has not submitted such matters to the government for consideration. If they come out with such a proposal, it will be discussed by the board of directors. Then we will form an opinion at the government and the board of directors. So far, this kind of proposal has not been discussed,” he said.
Asked about his personal position on the participation of ALROSA in the Sukhoi Log deal and the company’s diversification into gold mining business, Yury Trutnev said: “There are two very different ways [for the development of companies – IF]. There are single-business companies and they have a number of advantages. (There is also the way of diversification). In my opinion, both are possible. I don’t know which is the right one, as I am not occupied with the company in such a detail.”
Sukhoi Log is one of the world's largest gold deposits. According to Russia’s State Balance of Mineral Reserves, Sukhoi Log contains 1,953,000 tonnes of prospective gold reserves in the B+C1+C2 categories and 1,541,000 tonnes of prospective silver reserves, as well as 799 tonnes of off-balance gold reserves. This gold field has a potential to increase its resource base, as its projected gold resources belonging to the P1+P2 categories reach 1,015,000 tonnes.
The Russian authorities have been discussing an auction for Sukhoi Log for many years. The process intensified last year.