In his words, those wishing to develop this deposit will have to pay at least $150 million.
Sukhoi Log, which contains 40 percent of all Russian gold reserves, is the largest gold-ore deposit in Eurasia. Its reserves are estimated at 1,029 metric tons of gold. Each ton of local ore contains 2.8 grams of gold, as well as two grams of platinum; add to this palladium and rhodium.
In April 2004 Irkutsk-region governor Boris Govorin said that a tender for developing the Sukhoi Log deposit would be announced before July 1, 2004. Previous tenders have already been postponed more than once.
Russia's Norilsk-Nickel, Polymetal and Basic Element companies, as well as Barrick Gold of Canada and Great Britain's Fleming Family & Partners, have already announced their intention to take part in the tender.
