Russian gold producer Polyus plans to sell its 82.3% stake in the Nezhdaninskoye gold deposit in the republic of Yakutia to businessman Ivan Kulakov.
The deal is valued at $150 million, and precious metals producer Polymetal, the minority shareholder of the deposit, will keep an option to raise its stake in the project to 50%.
Kulakov, ex-partner of Roman Abramovich at oil company Sibneft, could act on behalf of other investors or could buy the stake for a further resale, sources said.
The deposit’s C1+C2 gold reserves are estimated at 20.3 million ounces, or 632 tons, with gold content of 5.1 grams per ton. (Prime/Ukrainian metal)