Highland Gold Mining has received a right from the Federal Antimonopoly Service to finalize the deal to purchase gold-extracting assets in Chukotka Autonomous District from Aristus Holdings Ltd (Cyprus), owned by Roman Abramovich and his partners.
The volume of the deal is $91 million, including $78.7 million to be paid in HGM shares (over 38.621 million shares) and $12.3 million of debt.
The company purchases a mine and a processing factory at the Valunisty deposit with the annual output of 31 thousand ounces (964 kg) of gold, two more projects and a prospecting license.
HGM is among top 10 gold-extracting companies in Russia. (Ukrainian metal)