The Chinese Fosun International company is interested in taking over of majority shareholding of one of the largest Russian gold mining companies, GV Gold (PJSC Vysochaishy). The company's assets are located in Yakutia and the Irkutsk Region, where field assets are located and geological exploration is carried out, «Коммерсантъ» reports, citing Bloomberg.
According to the Kommersant newspaper, the Vysochaishy can be estimated at $ 1 billion.
In 2018, the Vysochaishy set a record for gold production — it grew by 36 percent, to 304,300 ounces. Revenue from gold sales was $ 357 million (32 percent increase). At the end of 2019, the management of Vysochaishy predicts production at the level of 305,000–325,000 ounces. In 2018, the company planned an initial public offering, but postponed its IPO for one to two years.