Business
Russian industrialist Baisarov eyes expanding investments in metals after buying gold miner stake
Russian industrialist Baisarov eyes expanding investments in metals after buying gold miner stake
About this update from Ugc
Russian businessman Ruslan Baisarov has said that his company is interested in making other investments in the metals sector after it bought a controlling stake in nationalised gold producer Uzhuralzoloto (UGC) on Friday.BTS-Most Holding, controlled by Baisarov, won an auction to buy assets seized by the state from businessman Konstantin Strukov, including 67.2% of UGC, after offering 93.2 billion roubles ($1.26 billion) on Friday.In emailed comments after the auction, Baisarov said his company planned to expand its investments in the metals sector."We will continue to explore new opportunities in mining and invest in various promising assets and projects," he said.He said his company was focusing not just on gold, but on a broader range of what he called "metals of the future", including silver, copper, lithium, platinum group metals and rare earths.The UGC acquisition was the first deal in a broader pipeline of projects, he added, saying he was open to partnerships.($1 = 73.9000 roubles)