World's Largest Gold Deposit Price To Rise

Russia?s minister of natural resources Jury Trutnev said he considers to increase in 5 times starting price for the world?s largest gold deposit Sukhoi Log.
In his opinion, the price should be not less than $150 million. However, analysts predict that a new price can hardly change the situation before the auction.
In their opinion, Russian metal producer Norilsk Nickel still remains the odds-on favorite. Sukhoi Log is located in the north of Irkutsk region, Russia. Its expected reserves constitute 1029 tonnes of gold.
Only Russia?s companies will be allowed to participate in the auction. Earlier, the starting price was about 960 million roubles (about $33 million). But yesterday Jury Trutnev told reporters that he considers the starting price should not be lower than $150 million.
" It is not the final figure, but, according to our calculations, it should not be lower ", he said.