Media: Russia's UMMC weighs buying gold firm Petropavlovsk -Kommersant

Polymetal International PK

23/05/2022 06:31

May 23 (Reuters) - Russia's Ural Mining Metallurgical
Company (UMMC) is considering the acquisition of assets of gold
producer Petropavlovsk  POG.L , the Kommersant business daily
reported on Monday citing sources.
    * UMMC has submitted an application to buy Petropavlovsk to
Russia's Federal Antimonopoly Service (FAS), Kommersant said
citing one source
    * UMMC, Petropavlovsk and its shareholders would not
comment,
Kommersant said
    * Petropavlovsk said last month it was considering putting
itself
up for sale, as it has not been able to make interest payments
on $201 million loan nor sell gold to Russian bank Gazprombank,
which was put on the UK sanctions list  urn:newsml:reuters.com:*:nL2N2WC0GL
    * Gazprombank had later assigned to UMMC claim rights under
the
$201 million loan owed by Petropavlovsk
    * Petropavlovsk's most valuable asset is its pressure
oxidation
facility that can process refractory ore, though Polymetal
 POLYP.L  was also interested in it, Kommersant said

    
    
-- Source link: https://bit.ly/38CBdzz
   
-- Note: Reuters has not verified this story and does not vouch
for its accuracy

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00))