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. Last Updated: 07/27/2016

Gold Stake to Be Sold

MOSCOW -- The government in Russia's gold and diamond mining republic of Yakutia will auction on Dec. 25 a 5 percent stake in the Sakhazoloto holding company, which controls major local gold producers.

Russia's Federal Property Fund announced in a bulletin that the starting price for the stake would be 5.6 million rubles ($350,000 according to Friday's official rate).

But the stake comprising 112,635 ordinary shares is to be sold in lots of 635 to 2,000 shares each with a starting price of 50 rubles ($3.10 according to Friday's official rate) per share and a face value of 10 rubles.

There are no restrictions on foreign participation in the auction.