Russia says to tender Sukhoi Log gold deposit in 2017

MOSCOW, Dec (Shanghai: 600875.SS - news) 2 (Reuters) - Russian Prime Minister Dmitry Medvedev has signed an order to sell rights for the development of the giant Sukhoi Log gold deposit in Siberia in an auction in 2017, the government said in a statement on Friday.

Sukhoi Log, one of the world's largest untapped gold deposits, has remained undeveloped for half a century. Russia has been promising to sell the license for more than 20 years.

Companies controlled by foreign investors will not be allowed to take part in the auction, the government said in August.

Any bidder should have the Russian government or state-controlled firms among its shareholders with a 25 percent stake.

The starting price for the license will total 8.6 billion roubles ($135 million).

Almost all Russia's major gold producers have in the past shown interest in taking part in the auction for the deposit. ($1 = 63.8595 roubles) (Reporting by Polina Devitt and Diana Asonova; editing by Christian Lowe)