Nordgold repurchases, cancels shares, Mordashov stake rises to 99.03%
MOSCOW. Dec 21 (Interfax) - Gold miner Nord Gold has repurchased and cancelled another 2,236,757 shares, the company said.
As a result the stake of principle beneficiary Alexei Mordashov has risen to 99.03% from 98.38%.
Following the cancellation, Nordgold's charter capital consists of 339,373,771 shares.
Nordgold is the former gold mining unit of the resource division of Russian steelmaker Severstal . It was spun off into a separate company in January 2012. Nordgold has nine active operations in four countries - Russia, Kazakhstan, Guinea and Burkina Faso - as well as a number of projects at the development and exploration stage.