Polyus Gold, Russia Oil and Gas
The Russian government expected to form a pool of Russian investors soon to participate in the auction for the right to develop the Sukhoi Log gold deposit in the Irkutsk region, the Deputy Prime Minister Aleksandr Khloponin responsible for the use of mineral resources told reporters. He hopes that the auction will take place before the end of this year.
The outgoing year in metallurgy will be remembered by everyone, first of all, due to events with Mechel. In 2014, the most indebted company in the industry lost most of its capitalization. It was threatened with bankruptcy, default, was asked to sell assets, restructure its debt and convert it into shares. It was threatened with the dismissing of its general director and principal owner of the company Igor Zyuzin from its management - but there are still no specifics on the future of Mechel.
The first problems of Mechel were found at the end of February, when its shares "went" down for unknown reasons, although some analysts suspected that this was due to its debts. The manipulation with the shares was attributed to speculators, and the Central Bank undertook to investigate. But no one then imagined that everything would go so far.
But the company also had positive aspects in the current year, in particular, the sale of assets, and the fall of the ruble allowed it to significantly reduce its debt.
In the first half of Wednesday bidding, the Russian stock market holds trading in different dynamics. Ruble MICEX index slightly grows, and USD RTS index reduces at the background of considerable growth in USD rate versus rubles.
The fall of oil below the key level of $80 per barrel of Brent oil pressures the whole market.
As at 11:43 (GMT+3), MICEX index increased by 0.1% to 1530.28 points, and RTS index declined by 2.04% to 1,032.95, MICEX reports.
P. Grachyov from Nafta Moscow, the company of S. Kerimov has joined the Board of Directors of Polyus Gold International Ltd, as an independent director.
Translated by Nadezhda Poltoratskaya