Russian gold and silver miner Polymetal has consolidated a 100 percent stake in Amikan, which controls the Veduga gold deposit in West Siberia, Polymetal said on Wednesday.
The Russian miner paid $20 million to buy the 50 percent stake held by South Africa's AngloGold Ashanti in Amikan, a joint venture formed in 2008. Polymetal CEO Vitaly Nesis said on Tuesday that company has found new partners for the project.
"We have bought AngloGold's share to create a new joint venture with Sibproekt based in the Krasnoyarsk region, a Canadian investor and a Russian bank," Nesis said. He did not provide details.
Maksim Yaushev, deputy general director of Sibproekt, which is engaged in geodesy, geology and topography, told RBC daily the firm was in talks with Polymetal to create the venture.
Veduga's expected reserves were estimated in 2010 at 2.8 million ounces of gold with a metal content of 2.54-11.37 grams per ton of ore.
