Russian miners, Chinese investors interested in Polymetal's Russian assets -FT
MOSCOW - Russian miners and Chinese investors are among the parties interested in buying gold and silver producer Polymetal International's Russian assets, CEO Vitaly Nesis told the Financial Times.
Polymetal had considered spinning off its Russian business after re-domiciling to Kazakhstan from Jersey, but US sanctions imposed on its Russian assets complicated that process, forcing the group to seek a sale.
Nesis last week said on an investor call that a sale was now the only reasonable option and that the company intended to sell within six to nine months.
He told the FT that Russia's competition regulator and other requirements for foreign asset sales in Russia could hinder the process.
In May Washington included Polymetal's Russian business and Polyus - the largest gold producers in Russia - on its latest list of sanctions targets, aiming to punish Russia for its actions in Ukraine.
Nesis said Russian and Chinese companies, mostly from the mining industry, were among the bidders for the Russian unit, the FT reported.
Russia's Kommersant daily, citing sources, reported on Monday that Polyus was an interested party in Polymetal's assets.
The newspaper also named structures controlled by Vladislav Sviblov, metals producer Seligdar, Ural Mining And Metallurgical Company (UMMC), and Ivan Kulakov, a former business partner of billionaire businessman Roman Abramovich, as interested potential buyers.
A Polymetal spokesperson said the company did not comment on market rumours.
Nesis said he did not believe the Russian authorities would seize Polymetal's assets, as they did last month with those of French yoghurt maker Danone and Danish brewer Carlsberg.
Comments
Research Reports
Latest Multimedia
Latest News
Showroom
Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
