- Write by:
-
Wednesday, June 23, 2021 - 19:07:40
-
877 Visit
-
Print
Mining News Pro - Following its announcement earlier this month of an initial public offering in London, along with a secondary listing in Moscow, Nordgold has now decided to postpone its potential multi-billion-dollar IPO.
In Tuesday’s news release, the Russian gold producer said it would put the proposed IPO on hold, given a murky outlook of the global gold market.
“Recent central bank comments indicating an acceleration in expected interest rate rises have created significant uncertainty and volatility in the resources sector, in particular impacting gold and gold equities. Nordgold has determined that it would therefore not be sensible to pursue an IPO at this particular juncture,” CEO Nikolai Zelenski said in a media statement.
“Although we have decided to postpone our IPO, our priorities remain the same — delivering on our low cost, low risk development pipeline anchored in the Gross District and continuing to drive shareholder returns, without ever compromising on our adherence to the highest ESG standards, or the safety of our people, and the values that are core to Nordgold,” he added.
Nordgold currently operates four mines in Russia, one in Kazakhstan, three in Burkina Faso and one in Guinea. It produced approximately one million ounces of gold last year, earning a core profit of $1 billion.
Short Link:
https://www.miningnews.ir/En/News/614717
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
Interros, Nornickel’s largest shareholder, on Monday called allegations by fellow shareholder Rusal about undervalued ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
No comments have been posted yet ...