30 Oct 2023 10:24

Control of Zhelezny Kryazh gold project transferred to Gleb Trotsenko

MOSCOW. Oct 30 (Interfax) - Russian billionaire Roman Trotsenko is no longer the controlling shareholder of Siberian Goldfields, the owner of the Zhelezny Kryazh gold project in Transbaikal Territory.

More than 50% but less than 75% of Siberian Goldfields is now owned by Gleb Romanovich Trotsenko, born in 2001, the company reported in a regulatory disclosure. This is the name of one of Roman Trotsenko's sons.

Roman Trotsenko's GeoProMining owned 63.73% of Siberian Goldfields as of September 2021, when GeoProMining last disclosed its IFRS financials. The latest disclosure did not provide details about how the ownership structure of these two companies' has changed. However, Roman Trotsenko transferred control of consulting firm Start Aero, through which he held the stake in GeoProMining, to Gleb in 2022.

GeoProMining consolidates mining assets affiliated with Trotsenko, including gold and antimony mining projects in Russia, gold, copper and molybdenum mining in Armenia, the Zhelezny Kryazh gold project and the Zangezur copper and molybdenum plant in Armenia.