MAGADAN, September 24 (RIA Novosti) - Russian President Dmitry Medvedev, who is currently on a tour of the Magadan Region in Russia's Far East, criticized gold miner Polyus Gold on Wednesday, and told its management not to "whine".

"I understand that it is not easy for business to work because our bureaucratic mechanism is still very difficult, but there is no need to whine," Medvedev told Yevgeny Ivanov, general director of Russia's largest gold producer Polyus Gold.

Medvedev said gold miners should give up their jobs if they were dissatisfied with them, as the state could find other miners to develop the industry or even revoke Polyus Gold's license for a large gold deposit in the region.

At the same time, the president told local authorities to be more attentive to business needs.

After the meeting, the Polyus Gold general director refused to comment on the president's critical remarks and said that his company would seek to put into operation the Natalkinskoye gold ore deposit as soon as possible.

Magadan Region Governor Nikolai Dudov said the development of the Natalkinskoye gold ore deposit, with confirmed reserves of 1,836 metric tons, was the largest investment project in the region and could yield an annual output of up to 45 metric tons of gold.

According to Dudov, Polyus Gold intends to invest up to 60 billion rubles ($2.4 billion) in the project. At the same time, Ivanov said the company had already invested $100 million in the gold deposit.

Meanwhile, Economic Development Minister Elvira Nabiullina said that the president's criticism of Polyus Gold did not mean that the government had plans to revoke the company's license for the development of the Natalkinskoye gold ore deposit.

The president's criticism "is a strong appeal by the head of state for the company to work more effectively and reconcile business and state interests," Nabiullina said.