Barrick Gold finishes Russia adventure
30.04.2012/XNUMX/XNUMX Toronto - Since Russia has enormous gold deposits, the Canadian gold producer Barrick Gold had hoped to enter the Russian market through a stake in a company located there. However, it has now been announced that the company has put these plans on hold for the time being.
Thus, the Canadians held so far a 20prozentigen share of the Russian company Highland Gold. According to the company, Barrick Gold has now parted with its involvement. The sale price moves according to press reports at about 128 million dollars.
Disappointing production at Highland Gold
One reason for the sale of the shares is quite quickly found: The production planning of Highland Gold, which had provided an increase in gold output, could not be achieved, so that the Canadians of your partner should have been rather disappointed. The conveyor stagnation could be due to a non-optimal refilling equipment of the Russians. Whether or not Barrick Gold is now turning away from Russia, however, is currently waiting.
Since Highland Gold, which is controlled by, among others, the Russian oligarch Roman Abramowitch, had not stained with respect to its gold production with fame, the decision of Barrick Gold is quite understandable. However, due to Russia's large reserves of gold, Russians may be eligible to participate in other Russian gold sponsors. Because the Canadians would certainly like to cut off a piece of cake in this regard.
(Www.emfis.com)
