Russian aluminium giant Rusal to sell stake in major domestic gold and copper producer

Bystrinsky complex. Photo: Nornickel

The Russian aluminium giant Rusal will sell its 14% stake in the Bystrinsky mine and processing complex, one of Russia’s largest copper and gold complexes to the local financial conglomerate Interros for US$570 million, according to some sources close to the companies and some local media reports. `

 

As a result of the deal, Vladimir Potanin, one of Russia’s richest businessman and head of Interros will receive a controlling stake in Bystrinsky

 

The Rusal's stake is estimated at US$570 million, based on this, the entire value of Bystrinsky complex is estimated at US$4.07 billion.

 

 

In 2020, Bystrinsky complex produced 63,000 tonnes of copper and 241,000 gold ounces in concentrates. EBITDA of Bystrinsky GOK doubled to US$717 million.

 

According to some analysts, the deal will be within the interests of Norilsk Nickel and will be part of major efforts, conducted by the company to recover from the consequences of the accidents, which occurred on one of entrerprises a while ago.

 

By: Eugen Gerden