Highland closes Valunisty acquisition

21st December 2018 By: Mariaan Webb - Creamer Media Senior Deputy Editor Online

Aim-listed Highland Gold has received approval from Russia’s Federal Anti-Monopoly Service to complete the acquisition of the Valunisty mine, in Chukotka, where the company already operates the Kekura and Klen development projects.

The company closed the $91-million acquisition of the producing Valunisty mine and two licences on Thursday, eight months after it first announced it.

Valunisty produced 31 000 oz/y in 2017, and should increase Highland’s output to about 300 000 oz/y.