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Rostec mulls 25% stake sale in Sukhoi Log JV to Polyus

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Rostec mulls 25% stake sale in Sukhoi Log JV to Polyus

Rostec Corp. CEO Sergei Chemezov said the Russian state-owned group will mull selling a 25% stake in the Sukhoi Log joint venture to partner PJSC Polyus Gold, Reuters reported Dec. 26.

The joint venture was established to exploit Russia's Sukhoi Log, which is believed to be one of the world's largest unexploited gold deposits.

The deposit is held by the Russian government, which is expected to auction off mining rights in January, according to the report. Both resource companies will participate in the auction through the venture.