Page 130 - RusRPTFeb24

own online encyclopaedia, The Bell claims citing unnamed sources familiar with the project.
9.2.10 Utilities & Renewables corporate news
9.2.11 Mines and Minerals - gold & diamonds
Inter RAO exported 3.1bn kWh of electricity to China in 2023 It is lower than in the record high year of 2022, when it was 4.6bn kWh, Inter RAO Spokeswoman Alexandra Panina said.
Leading Russian gold miner Polymetal International expects to finalise the sale of its Russian operations by the end of March, CEO Vitaly Nesis said on January 31.
The decision to sell up its Russian assets was made after the company was sanctioned by the US sanctions following Russia’s invasion of Ukraine in February 2022 and the company re-domiciled to Kazakhstan, listing on the Astana International Exchange in 2023.
The sale of the assets has been accelerated with the shortlisting of potential buyers in September. The details of the deal depend on several factors, including Russia's exchange rate-linked export duties and currency controls. The buyer's identities remain undisclosed, but Russian and Chinese firms have shown interest.
Nesis confirmed to Reuters on January 31 that the company's new, largest shareholder, a consortium from Oman, considered the sale of the Russian business an "absolute strategic priority".
Polymetal confirmed two days earlier that investment company ICT Holding, owned by Vitaly’s older brother Alexander, had sold its 23.9% stake in Polymetal to the consortium from Oman. The sale of the stake was a strategic step towards enabling the sale of the Russian assets.
"In Russia now, in order to effectively exercise corporate ownership rights, you have to live in Russia", Nesis told Reuters.
Nesis says the deal to sell the Russian assets will be put to the board in February and the deal should be closed by March.
"We have one potential buyer, it's a Russian buyer," Nesis told Reuters. "We have to finalise the sale, then have a shareholders' consultation... We need to find out what BlackRock thinks, what the Oman fund thinks,” Nesis added
130 RUSSIA Country Report February 2024 www.intellinews.com