Two major transactions await the Russian gold mining market. The President of the Russian Federation allowed the Aurum company to acquire a controlling stake gold mining enterprise “Pavlik”. At the same time, the government is preparing for auction the sale of another major player – Yuzhuralzoloto Group of Companies (UGK). The starting price of the lot is set at 140.4 billion rubles.
Permission for the transaction was necessary due to restrictions on transactions with foreign participation in force since 2022. The controlling stake in Pavlik (87.63% of the authorized capital) previously belonged to the Cypriot Gentlia Limited. Now these shares will be transferred to the Moscow JSC Aurum. Another 12.37% remains with Gazprombank. According to the decree, Aurum will be able to buy out 500 thousand voting shares and 125 preferred shares.
The Aurum company itself was registered in the capital at the end of 2024. It is headed by Evgeny Kulikov, who also runs the Arlan investment firm.
At the same time, another significant deal is being prepared. Deputy Minister of Finance Alexey Moiseev said that the draft order on the sale of the Southern Gas Complex has been sent to the government and is at the stage of legal and technical finalization. The document has already been agreed upon, and after the final edits, bidding should follow. They are planned to be held after the May holidays.
The Federal Property Management Agency has already developed the conditions: an open auction with a starting price of 140.4 billion rubles. The deadlines will be tight – only five working days for submitting applications and making a deposit (20% of the initial price).
Gold mining industry in Russia is at the center of corporate restructuring. The transfer of control over Pavlik to a national investor and the upcoming privatization of SGC may change the balance of power in the precious metal market.
Sources: RBC, TASS
Image: RIA Novosti
