The Federal Antimonopoly Service has allowed Vysochaishiy to purchase 100% of the Mineraly Kamchatki LLC, which manages gold-extracting assets of Renova.
The company manages Zoloto Kamchatki, Interminerals Management LLC, Kamchatka Copper Company LLC, Kamchatskoye Zoloto, Bystrinskaya Mining Company, Ametistovoye and Kamgold.
Zoloto Kamchatki owns 9 licenses for gold deposits with the combined reserves of over 12 million troy ounces (375 tons). In 2017 the company is expected to mine 5.6 tons of gold.
If the deal is approved, Vysochaishiy will become the 6th largest gold producer in Russia with the output of over 10 tons.
In 2016 the company produced 5.1 tons of gold, down by 9.7% YoY. In 2017 its plan is 6.5-6.7 tons. (Ukrainian metal)