Russian President Putin authorizes Aurum to purchase Pavlik gold mining company

MOSCOW. April 27 (Interfax) -Russian President Vladimir Putin on Monday signed an order authorizing JSC Aurum to purchase shares in the gold mining company Pavlik from the Cypriot Gentlia Limited.

The order concerns 500,000 ordinary shares and 125 preferred shares, representing 87.63% of the gold miner's authorized charter capital. Gazprombank holds the remaining 12.37%, according to Pavlik's financial statements

The order does not specify to which company "Aurum" refers, though Yevgeny Kulikov, CEO of Arlan Investment Company, which manages JSC Pavlik, heads the joint-stock company of the same name.

The mining and processing plant at the Pavlik deposit in the Magadan Region opened in 2015 and is currently estimated to be among the top 10 gold miners in Russia.