This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
EastRussia Bulletin: Investors from China are interested in gold projects in the DFO
A consortium of Chinese investors led by Fosun International is considering the possibility of buying a controlling stake in GV Gold (PJSC “Vysochaishy”), which owns gold projects in the Irkutsk region and Yakutia. The gold mining company Zhaojin Mining Industry Co is also ready to enter the consortium, the latest published issue of the EastRussia bulletin says.
According to preliminary data, the cost of a controlling stake may amount to one billion US dollars. However, the decision on the transaction has not yet been made.
In 2017, Fosun and Zhaojin Mining Industry jointly already intended to acquire 15% of the shares of the leading Russian gold mining company, PJSC Polyus. However, the agreement was eventually terminated because the transaction did not receive the approval of the authorities of the PRC. Also, its cancellation was affected by the growth of the Polyus capitalization.
Last year, the Russian company increased its production by 36% compared to 2017 of the year - to 304,3 thousand ounces of precious metals, thanks to the commissioning of the Tarynsky GOK in Yakutia and the Ugakhan GOK in Priangarie. This year, the company expects to produce 305-325 thousand ounces of precious metal.
Detailed analytics on this and other relevant topics can be found in EastRussia Weekly Newsletter.