Polymetal, until recently one of the world’s most profitable gold miners, has secured a buyer for its Russian business that values it at more than $3bn, in a deal the Anglo-Russian group claimed would protect it from nationalisation.
Polymetal shareholders will vote on the sale to Mangazeya Mining — a Russian precious metals producer based in eastern Siberia — at next month’s shareholders’ meeting, the company said on Monday. If approved, the deal is expected to close as soon as March.
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