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The government of Abu Dhabi bought a stake in the Russian gold mining company

Mining industry / Russia

Sovereign Fund Abu Dhabi Investment Authority, owned by the Emirate of Abu Dhabi, became the owner of 4,5% of actions of gold mining company Petropavlovsk plc.

The government of Abu Dhabi bought a stake in the Russian gold mining company

Sovereign Fund Abu Dhabi Investment Authority, owned by the Emirate of Abu Dhabi, bought a 4.5% stake in one of the largest gold companies in Russia Petropavlovsk plc., it is told in the company message.

Share of the Fund is approximately 149 million shares, which at current prices is estimated at 17.3 million pounds. Owned the Fund shares of the company not previously disclosed.

In mid-July 2019 — NGO "Altair" Roman Trotsenko became the largest shareholder of Petropavlovsk, bought 22.4 percent of the shares in a gold company.

Petropavlovsk Plc is among the top five Russian companies by production of gold. The main assets are concentrated in the Amur region, where it operates four mining and hydrometallurgical plant — the Pokrovsky mine, pioneer, Malomir and Albyn.

Abu Dhabi Investment Authority (ADIA) is a sovereign wealth Fund owned by Emirate of Abu Dhabi, United Arab Emirates-based for investment purposes by the government of Abu Dhabi.

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