/IRBIS April 14, 2010/ - On Tuesday The Government Commission of RF on Monitoring the implementation of Foreign Investments at a meeting approved a deal to make KazakhGold in the parent company holding "Polyus Zoloto (Gold) " - it's reported by "RIA Novosti" with reference to the statement by Mr. Igor Artemyev the Head of FAS Russia.

"Such a restructuring and reorganization has also been endorsed by a government commission," - noted Mr. I. Artemev at a briefing after the committee meeting.

According to Mr. Artemiev, as it is indicated about "a combination into a single company, including Russian and some of Kazakhstan's gold assets through appropriate company KazakhGold Limited".

Government Commission of RF considered the application KazakhGold Group Limited trades in agreement to acquire indirectly the right to dispose of votes falling on the voting shares of OJSC Matrosov Mine behalf of the JSC, Yuzhno- Verkhoyansk Mining Company ", OJSC" Firstborn ", CJSC" Tonoda, CJSC Polyus ", LLC" Amur EMG.

These companies, which own strategic deposits, are daughters of "Polyus Gold", the largest gold producer in Russia, which is also in August 2009 has 50.1% stake in Kazakhstan's gold-mining company KazakhGold. At the end of last year, there is information that can be done reverse takeover deal for Russian gold holding its current "daughter" KazakhGold to improve the liquidity of shares in Polyus Gold. "assumed that in this case KazakhGold become the parent company and holding company will be renamed the Polyus Gold.

According to RIA Novosti, the principal beneficial owners of OJSC Polyus Gold "are businessmen Mikhail Prokhorov and Suleiman Kerimov - they belong to 29.9% and 36.9% of shares in the company respectively. The company in 2009 posted a net profit under RAS in 1.4 billion rubles against the loss of 3.2 billion rubles received for the year 2008. The portfolio of assets "Polyus Gold" includes ore and placer deposits in the Krasnoyarsk Territory,Irkutsk, Magadan, Amur regions and Yakutia.

[2010-04-14]