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Baisarov Eyes Broader Investments in Russian Metals After Uzhuralzoloto Acquisition
Ruslan Baisarov’s Strategic Moves in the Russian Metals Sector
Acquisition of Uzhuralzoloto (UGC)
MOSCOW, June 22 (Reuters) – Russian businessman Ruslan Baisarov has said that his company is interested in making other investments in the metals sector after it bought a controlling stake in nationalised gold producer Uzhuralzoloto (UGC) on Friday.
BTS-Most Holding, controlled by Baisarov, won an auction to buy assets seized by the state from businessman Konstantin Strukov, including 67.2% of UGC, after offering 93.2 billion roubles ($1.26 billion) on Friday.
Future Investment Plans
In emailed comments after the auction, Baisarov said his company planned to expand its investments in the metals sector.
Exploring New Opportunities
“We will continue to explore new opportunities in mining and invest in various promising assets and projects,” he said.
Diversification Beyond Gold
He said his company was focusing not just on gold, but on a broader range of what he called “metals of the future”, including silver, copper, lithium, platinum group metals and rare earths.
Outlook and Partnerships
Pipeline of Projects
The UGC acquisition was the first deal in a broader pipeline of projects, he added, saying he was open to partnerships.
Financial Details
($1 = 73.9000 roubles)
Reporting Credits
(Reporting by Gleb Stolyarov; Editing by Andrew Osborn)