Tuesday, September 20, 2005
Polyus buys Aldanzoloto , Yuzhno-Verkhoyanskaya and Yakutskaya from IG Alrosa
20/09/2005
Story: ZAO Polyus announced on 19 September that it has purchased from IG ALROSA 99.2% of the shares of LLC Aldanzoloto GRK, 50% of the shares of OJSC Yuzhno-Verkhoyanskaya Mining Company and 100% of the shares of OJSC Yakutskaya Mining Company. The acquired companies hold licenses for three gold deposits - Kuranakh ore field, Kyutchus field and Nezhdaninskoye deposit - located in the region of the Republic of Sakha (Yakutia).
These three major gold assets located in the region of Yakutia were purchased by the Polyus Group as part of its strategic development plan which is aimed at the Polyus Group becoming one of the top global gold producers.
The total purchase price will not exceed USD 285m. In accordance with the terms of the transaction, Polyus has made a pre-payment in the amount of USD 115m.
Quoted in the statement, Polyus Group CEO Evgueny Ivanov, said: "We acquired unique assets and made a crucial effort for reaching our strategy's key goal - to create a true Russian international gold major".
LLC Aldanzoloto GRK is the largest gold producer in the region of the Republic of Sakha (Yakutia). In 2004 its production output reached 4,814 tones of gold (155 k oz).
Nezhdaninskoye gold filed is one of the largest gold deposits in the Russian Federation; by mineral base, according to the Russian classification system, it's ranked second in Russia, only behind the largest Russian gold deposit Sukhoi Log (Irkutsk region).
Source: Company press release(s)
Value: $285m (Upper value of the transaction)
Story: ZAO Polyus announced on 19 September that it has purchased from IG ALROSA 99.2% of the shares of LLC Aldanzoloto GRK, 50% of the shares of OJSC Yuzhno-Verkhoyanskaya Mining Company and 100% of the shares of OJSC Yakutskaya Mining Company. The acquired companies hold licenses for three gold deposits - Kuranakh ore field, Kyutchus field and Nezhdaninskoye deposit - located in the region of the Republic of Sakha (Yakutia).
These three major gold assets located in the region of Yakutia were purchased by the Polyus Group as part of its strategic development plan which is aimed at the Polyus Group becoming one of the top global gold producers.
The total purchase price will not exceed USD 285m. In accordance with the terms of the transaction, Polyus has made a pre-payment in the amount of USD 115m.
Quoted in the statement, Polyus Group CEO Evgueny Ivanov, said: "We acquired unique assets and made a crucial effort for reaching our strategy's key goal - to create a true Russian international gold major".
LLC Aldanzoloto GRK is the largest gold producer in the region of the Republic of Sakha (Yakutia). In 2004 its production output reached 4,814 tones of gold (155 k oz).
Nezhdaninskoye gold filed is one of the largest gold deposits in the Russian Federation; by mineral base, according to the Russian classification system, it's ranked second in Russia, only behind the largest Russian gold deposit Sukhoi Log (Irkutsk region).
Source: Company press release(s)
Value: $285m (Upper value of the transaction)
