Renova Group owned by Russian oligarch Viktor Vekselberg will push for gaining control over a gold mining company Petropavlovsk and its further merging with Zoloto Kamchatki (The Gold of Kamchatka).
After that, Renova Group will seek for the consolidation of a new entity with Highland Gold belonging other Russian billionaire Roman Abramovich or GV Gold.
As a result, a new major gold miner is likely to emerge in Russia, that will be second in the market, according to Kommersant newspaper.
At present, Renova Group, which is controlling jointly with Sothic Capital Management and M&G Debt Opportunities about 40% of Petropavlovsk, is seeking for a change of the company’s Board of Directors’ membership.
