USD 64.1213

+0.29

EUR 70.604

-0.07

BRENT 63.51

-0.52

AI-92 42.4

+0.01

AI-95 46.11

0

AI-98 51.89

-0.01

Diesel 46.15

0

24

Russian Gold Giant On Free Float

Polyus Zoloto is the largest gold mining company in Russia

Russian metals giant Norilsk Nickel's gold arm Polyus Zoloto was valued by the investment company Finam at $4.4 billion ($20.4 per share).

Polyus Zoloto intends to float on the Russian Trading System stock exchange and the Moscow Interbank Currency Exchange in March-April, and on western trading floors in May 2006.

According to analysts' estimates, the free float should amount to 40% of the company's stock.

Polyus Zoloto is the largest gold mining company in Russia, accounting for around 20% of the country's gold output. The firm's gold output in 2004 was around 33.75 metric tons, but that figure is expected to rise to about 100 mt/yr by 2010, making the company one of the world's top five producers of the metal.