UGC Group could take over Krasnoyarsk gold miner Sovrudnik
MOSCOW. Dec 30 (Interfax) - The Russian Federal Antimonopoly Service (FAS) has cleared the Uzhuralzoloto Group of Companies (UGC Group) from the Chelyabinbsk region to buy a 51% stake in LLC Sovrudnik, which mines gold in the Krasnoyarsk territory, the FAS said in a statement.
Both companies are among Russia's top 10 gold miners. UGC produced 7.5 tonnes (240,000 ounces) of gold in 2013 and Sovrudnik produced 4.2 tonnes (135,000 oz).
UGC is nearly 100% owned by Ugold Limited, which is controlled by UGC chairman Konstantin Strukov.
UGC has deposits in the Chelyabinsk Region (Kochkarskoye, Setlinskoye, Bereznyakovskoye, West and South Kurasan), Trans-Baikal Territory (Darasun mine), Krasnoyarsk Territory (Priisk Drazhny) and Khakasia (Kommunarovsky Mine ).
Sovrudnik, set up in 1998, mines and processes near-surface hardrock gold. According to the SPARK-Interfax database, the Gainutdinov family owns 51% of the company. Its main deposit is the Eldorado deposit with proven reserves of 60 tonnes. The company also holds licenses for the Sovietskoye, Dobroye, Udarnoye, Proletarskoye, Vershinka and Alexandro-Ageyevskoye deposits.
