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Polyus to buy another 25% of Sukhoi Log gold deposit

Section: Daily Dispatches

By Polina Devitt
Tuesday, July 11, 2017

MOSCOW -- Russia's largest gold producer, Polyus, is buying an additional 25.1 percent in Sukhoi Log, one of the world's largest untapped gold deposits, in an all-share deal worth $145.9 million, the company said today.

Polyus will pay state-owned Russian conglomerate Rostec in five tranches of its shares within the next five years. The first is expected to be in the form of existing Polyus treasury shares worth about $21.9 million within 30 business days from July 11, it said. ...

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