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A UK court has struck down a $5.6 billion lawsuit filed against Russian billionaire Roman Abramovich by his former partner Boris Berezovsky. The case recalls the 1990s disputes over Russia’s natural resources. Judge Elizabeth Gloster ruled that Russian executive Roman Abramovich, the billionaire owner of the Chelsea Football Club, will not pay the huge sum [...]
RUSAL is the world’s largest aluminium producer and one of the world’s major producers of alumina. The company was founded in 2000 and, following its merger with SUAL and the alumina assets of Glencore, became the global aluminium industry leader in 2007. The world’s largest aluminum producer Rusal has completed a deal with the leading [...]
Norilsk Nickel is the world’s largest producer of nickel and palladium and one of the leading producers of platinum and copper. It also produces various by-products, such as cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulfur. Norilsk Nickel said on Wednesday its profit attributable to shareholders rose to $3.6 billion in 2011 from $3.3 [...]
Russia’s third-largest gold producer, Nord Gold announced its financial results for the first quarter ended March 31, 2012. Net income dropped 30 percent year-on-year to $60 million after its gold output fell, but said it expects a strong second half of 2012. “With production now returning to our forecast rates we anticipate a strong second [...]
TORONTO — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) announced the sale of its entire shareholding of approximately 20.4% in Highland Gold Mining Limited (“Highland”), the AIM-quoted Russian gold producer, consisting of approximately 66.2 million ordinary shares at a price of 120 pence per share for total gross proceeds of approximately $130 million. The shares were placed primarily with [...]
MOSCOW – Polyus Gold International is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced (1.5 million ounces of gold production in 2011). The Company holds the world’s third largest gold reserves with about 91 million ounces of proven and probable gold reserves underpinning the Polyus [...]
Russia’s largest gold miner Polyus Gold International is expected to go ahead with a share offering worth between $700 million – $1 billion in late April, Reuters reports citing sources “familiar with the matter.” The stake sale is necessary if the company wants to proceed with a planned listing in London because it needs to increase its [...]
RUSSIA - Polyus Gold International Limited is an international company, the leading gold producer in Russia and Kazakhstan, one of the world’s largest gold producers. Headquartered in London, Polyus Gold’s operating mines and development/exploration projects are located in 5 major gold mining regions of Russia – the Krasnoyarsk Territory, the Irkutsk, Magadan, Amur Regions, the Republic [...]
Gold mining operator Nordgold, a former subsidiary of Russia’s second largest steel-maker Severstal, saw its net results skyrocketed by 89% in 2011. The leap came as a result of increased production and higher gold prices. After separating from its former parent company Severstal in December, Nordgold now reports in its first independent statement a significant [...]
Russia’s biggest precious metals producer Polyus Gold has seen its shares skyrocket on Friday and continue on Monday. But the reasons for the sudden attractiveness of the company’s shares left many investors wondering. By the end of the last week Polyus Gold shares shot up 38%, and that rise has continued with the company trading [...]
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