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Russian gold miner Polyus says deal with China's Fosun scrapped

Among the reasons cited is the arrest of Russian tycoon Suleiman Kerimov, whose family controls the company

Published Tue, Jan 16, 2018 · 09:50 PM
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Moscow

RUSSIA'S largest gold miner Polyus said on Monday that plans to sell a 10 per cent stake to a consortium led by China's Fosun International had been dropped after one of the conditions of the agreement was not met.

Russia, the world's third-largest gold producer, had been looking for investments from Asian countries, including China, since sanctions were imposed on Moscow by the West over its actions in Ukraine.

The Fosun-led consortium had been in talks since 2016 to buy a large minority stake in Polyus, which is controlled by the family of Russian tycoon Suleiman Kerimov.…

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