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GOLD RUSH

16th June 2017

By: Martin Creamer

Creamer Media Editor

     

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Less than two years after delisting from the London Stock Exchange, Russian gold producer Polyus has returned. Listed in Moscow with a market capitalisation of $9.9-billion, Polyus is prepared to sell 7% of its equity, which follows China’s Fosun Group having agreed to acquire 15% of the company. CEO Pavel Grachev, above, sees Polyus as having the opportunity to deliver good growth, which he envisages will take it from being the world’s eighth-largest gold producer to the number four spot in 2019. The offering, according to a Financial Times report, provides an opportunity for investors to dip into a low-cost and fast-growing asset that is guiding gold production of 2.8-million ounces in 2019.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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