Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa


Russian Gold Producers
February 27, 2020 12:39


(Source: https://sm-news.ru/wp-content/uploads)

Forbes has compiled a rating of entrepreneurs who control the production of gold in Russia. The list contains 17 names. These businessmen account for about two-thirds of Russian gold production.

In 2018, according to the Union of Gold Producers, almost 330 tons of gold were produced in Russia. In 2019, the union predicts the growth to 340 tons. A quarter of all this precious metal is accounted for by one company - Polyus. It was created by billionaires Vladimir Potanin  and Mikhail Prokhorov, now controlled by the family of billionaire Suleiman Kerimov. The closest Polyus rival, Polymetal, produces almost half the amount of gold - 41 tons versus 88 tons. Polymetal back in the mid-1990s was created and is still controled by an industrialist Alexander Nesis.

Who owns the other major gold mining companies?

Forbes compiled the first rating of Russian gold producers. Gold production by the largest Russian companies was expressed in US dollars using the average exchange price of gold in 2019 - $ 1392 per ounce. Then they divided this indicator for each company in proportion to the blocks of shares owned by its major shareholders. In fact, the rating demonstrates which part  of the profit from the sale of gold belongs to the owners. After all, the selling price of gold produced may differ from the exchange one. It can be higher if gold is sold through banks with a commission (it can reach 0.5-1%), it can be lower if gold is sold not in bullion from refineries, but in the form of concentrate. In 2017 and 2018, 10-15 tons of Russian gold were sold in the form of a concentrate.

The rating included 17 entrepreneurs. Among them are nine members of the Forbes list. These businessmen control 11 companies that produce almost 64% of Russian gold.

The first place was predictably taken by the family of Suleiman Kerimov - the shares of Polyus (about 78%) belong to his son, 24-year-old Said. And Alexander Nesis took only the fourth place - although Polymetal is second only to Polyus in the volume of gold mined, the share of ICT Nesis in the company is only 27%. As a result, the former prospector and founder of Yuzhuralzolot, Konstantin Strukov, who recently expanded his gold empire, bought 28 percent of the Amur company Petropavlovsk from billionaire Roman Trotsenko and became its largest shareholder.




Author: Anna Dorozhkina

Tags: Russian Oligarchs Russian companies Russian business Mikhail Prokhorov  

Next Previous

You might also find interesting:

Khodynka Field Park Concept Uber Goes To Russian Regions The 72th Anniversary of Luban Offensive 'Good Neighbor Policy' Promoted by Alaska's Elite Football: 2 Top Teams Launch Coach Reshuffles Weeks before Season End









Comment on our site


RSS   twitter      submit



TAGS:
shopping in St. Petersburg  Satellites  Pushkin Museum of Fine Art  Mercedes-Benz Fashion Week Russia  Russian economy  Hermitage  Pushkin Museum of Fine Arts  Banks of Russia  Fashion Illustration  St. Petersburg  Yuri Roerich  Ksenia Sobchak  The Irkutsk Region  St. Petersburg Museums  Exhibitions in Moscow  sanctions  Russian scientists  Moscow  Moscow Museums  New Laws  Russian hockey  Orenburg  NTV TV Channel  Art Objects  Russian science  Perm  Yaroslavl   flyover  Russian business  Archaeology  Vladivostok  Russian opera  Elections 2012  Multimedia Art Museum  Pop Music   City Hunter  Russian celebrities  Natalia Vodyanova  Russian tourism  International space station  Arts and Crafts  Victor Tsoi  excursions  Russian Cinema  Moscow Metro  Political Rallies  Russian singers  Lada  Russian artists  Russia Today 


Travel Blogs
Top Traveling Sites