Highland Gold Begins Talks On Selling Its Darasun Mine
Reuters
Highland Gold, the country's No. 4 gold miner, is in talks about the possible sale of its loss-making Darasun mine, where a fire killed 25 people last year, its managing director said Thursday.
"We have been approached by a potential buyer but it is premature to disclose any details as the talks have only just started and are at a very early stage," Henry Horne said in an e-mailed statement.
also
Barrick Gold Mulls Sale Of HGM Stake
05/28/2007
Barrick Gold Corp. is mulling the sale of its 34% stake in Highland Gold Mining Ltd. (HGM) to a local buyer. Aton Capital quoted Interfax as reporting that Barrick would like to develop its Russian business on its own.
and
Highland Gold Not Selling Mnogovershinnoe
05/30/2007
Highland Gold Mining Ltd denied reports in the Russia press that it plans to sell its Mnogovershinnoe mine (MNV) in Russia. Company spokesman Dmitry Yakushkin said "MNV is not for sale". "MNV is the company's core producing asset. It is a well performing operation and the company's main cash generator," he added. "We are in the process of improving efficiency on all levels at MNV and this combined with the mine's potential lets us optimistically look forward to many years of stable production at MNV," he said. The company also said it is unaware of plans by Barrick Gold Corp to sell all or part of its 34% stake in Highland as had been reported by a Russian news agency. "Barrick has been, as always, very supportive," said Yakushkin, adding that last December Barrick raised its shareholding in Highland to 34% from 20%.
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