Russia: Petropavlovsk to sell IRC

Gazprombank is looking for a strategic investor for the gold-extracting company Petropavlovsk to buy a share in IRC. According to a major Petropavlovsk shareholder Kenes Rakishev, who owns 22.42% in the company, a major steel company could be such an investor. He didn’t give any names though. At the same time the sale will be…

Russia: Petropavlovsk gold output down in 2018

In 2018 Petropavlovsk plc decreased gold output by 3.9% YoY, to 422.3 thousand ounces.

This year the company expects to produce 450-500 thousand ounces.

Petropavlovsk is among 5 largest gold producers in Russia. Its main assets are in Amur region: Pokrovsky mine, Pioner, Malomyr and Albyn. (Ukrainian metal)

Kazakhstan: Fincraft Resources gets 22% in Petropavlovsk

The mining-metallurgical company Fincraft Resources has concluded a deal to consolidate 22% of Petropavlovsk plc shares by buying Fincraft Holdings Ltd.

The amount of the deal is not disclosed.

Fincraft Holdings Ltd (Cyprus) bought 22.42% in Petropavlovsk in late 2017. (Ukrainian metal)