UPDATE: Russia’s Polymetal 80% in Saum Mining Company for $10.7 mln

(Adds details in second paragraph)

MOSCOW, Dec 5 (PRIME) -- Russian silver and gold producer Polymetal International has bought 80% in Saum Mining Company LLC for about U.S. $10.7 million, the company said in a statement Monday.

During the deal, Polymetal issued more than 1.120 million new shares, which accounts for 0.26% of the company’s increased shareholder equity. The shares will start trading at the London Stock Exchange on Tuesday, the company said.

Saum Mining Company owns a license for the development of the Saumskoye polymetallic ore field located in the Sverdlovsk Region.

End