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The World Largest Gold Mining Will Be Auctioned

Sergei East Skoey, Russia's Natural Resources and Environment Minister announced that Russia's largest and undeveloped Sukhoi Loge gold mining area will be auctioned on January 26, 2017, the starting price is 8.55 billion rubles (about $ 133 million).


According to Russian satellite news agency, Russian Prime Minister Dmitry Medvedev signed a government order earlier this week to approve this auction. The report did not mention whether the auction was open to bidder over the world, but the government said the Sukhoiloge mine by using steel mill is a "parcel of federal importance."


The gold reserves of the Sukhoilogg region is estimated to be 1814 tons, and it is one of the largest known gold deposits in the world, which located in the Irkutsk region of Eastern Siberia.
On September 10, 2012, the news of Russian "Herald" quoted from Igor• Shuvalov's  Russian First Deputy Prime Minister mentioned Russia intended to auction the gold mine area, only bid from Russian residence are allowed because of the "strategic" significance.


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