Ural-Polymetal was reorganized
Edited by Rhod Mackenzie / 2014-09-15 10:19:39
Polymetal, the Russian largest silver producer and one of the leading gold producers has announced about the consolidation of the Northern-Kaluginskoye deposit in the Ural region. Before the transaction, Polymetal was the owner of 49.99% in the joint venture owning the deposit. After the reorganization of the joint venture Ural-Polymetal CJSC, Polymetal bought 100% in the Northern-Kaluginskoye deposit. Ural-Polymetal liquidated, and its assets and liabilities were distributed between the shareholders. Within the process, Polymetal bound itself with debt of $20 million.
