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25

Norilsk Nickel Sub To Buy British Gold Company

Polyus, the largest Russian gold mining company, owns

British Celtic Resources gold producing company, which owns 20% of OJSC Yuzhno-Verkhoyanskaya Mining Company and now is disputing a sale of 30% of the company to ALROSA Investment Group in the court, may sell its shares to Polyus Company, the gold arm of Norilsk Nickel.

Polyus, the largest Russian gold mining company, owns 62.6% of Lena Gold, 88.4% of Matrosov?s Pit and 20% of SA Gold Fields.

Last year the production of the company amounted to 1.1 mln tr oz.
OJSC Yuzhno-Verkhoyanskaya Mining Company has the licence for Nezhdaninskoe deposit exploitation, the resources of the deposit being estimated at 700 tons of gold.