Russian gold miner Petropavlovsk has a new major shareholder, Uzhuralzoloto Group of Companies (UGC) – a privately owned business that ranks as one of Russia’s top five gold producers.
Petropavlovsk CEO Pavel Maslovskiy says UGC president and founder Konstantin Strukov’s decision to investment in the company was a “strong endorsement” of its strategy and operational success, given that UGC was well respected in the Russian gold mining industry for its operating capabilities.