UMMC renames RussiaТs Petropavlovsk into Atlas Mining
MOSCOW, Apr 27 (PRIME) -- Ural Mining and Metallurgical Company (UMMC) has changed the name of subsidiary Russian gold producer Petropavlovsk Plc into Atlas Mining, the company said in a statement on Thursday.
Atlas Mining LLC, established in 2020, is currently manages Petropavlovsk. Its CEO is Fyodor Kirsanov, and UUMC-Invest is the companyТs owner.
UMMC Also said it appointed Mikhail Yurchuk as the gold producerТs deputy CEO in charge of relations with the federal authorities. Prior to the appointment, Yurchuk held a similar position at metals giant Norilsk Nickel for several years.
PetropavlovskТs assets are located mainly in the Amur Region, and the companyТs gold output shrank by 4.5% on the year to 11.185 tonnes in 2022. The company started facing financial problems last year after introduction of anti-Russian sanctions by the West, and its assets were sold to UMMC-Invest, its largest creditor, in September 2022.