Trotsenko says interested in cos with gold reserves of over 50 tns

MOSCOW, Feb 18 (PRIME) – The companies of Russian tycoon Roman Trotsenko plans to produce gold and is interested in assets with reserves of at least 50 tonnes of gold, Trotsenko told reporters on Tuesday.

“We are not interested in small projects with reserves of less than 50 tonnes. Composition of ores it not important for us, we are ready to work with refractory ores, with sulfide ores, this is our specialization. We are not interested in poor ores with a grade of below 1 gram, we do not think it is promising,” he said.

“We specifically don’t want underground mining, we have an opencast, and open pit. There may be underground mining, but only if it is an element of finalization of a field’s development.”

About 40 fields comply with Trotsenko’s demands, and the republic of Yakutia and the Amur and Krasnoyarsk regions are the most promising territories, but Trotsenko did not name any specific companies that he may acquire. “There is a short-list, we will comment on that after we close the deals. We have a couple of projects ready for closure,” he said.

Troitsenko has recently sold a 28.34% stake in gold producer Petropavlovsk because it uses a different technology of gold mining, and the money will be spent on acquisition of new assets. Trotsenko may spend up to U.S. $1 billion on new mining projects, he said.

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