- Write by:
-
Wednesday, June 23, 2021 - 19:07:40
-
864 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
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Aluminum prices touched an 11-week high on Monday over concerns over slow recovery in production in China’s Yunnan ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
French President Emmanuel Macron said on Monday the government is seeking to designate new regulated gold mining zones ...
Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation ...
Gold snapped nine days of record-breaking gains as underlying US inflation topped forecasts for a second month in ...
No comments have been posted yet ...