India's Sun Gold, Chinese firm to invest $500 mn in Russian gold mine

India's Sun Gold and China National Gold are launching a joint gold mining project in Russia's Siberia region, the two companies said in a joint statement during a Johannesburg summit of BRICS member states. In 2016, the sides agreed that Sun Gold would sell a 70-per cent stake in the project, the Kluchevskoye gold deposit, to China National Gold, a major global gold producer.

The Chinese gold company would, in turn, contribute to its development expertise. However, the deal was delayed for various reasons, including red.

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