VTB Capital Announces Share Purchase of Zapadnaya Gold Mining Ltd. (CEE and CIS)
Source: VTB Capital
VTB Capital, the investment arm of Russia-based VTB Group, has acquired a minority stake in Russian mining firm, Zapadnaya Gold Mining Ltd. (ZGML). ZGML, which has over 25 years of experience in the gold mining industry in Eastern Siberia, plans to use the investment capital to complete construction of the Alexandrovsky mine and commence a program to expand reserves in Yakutia, Zabaykalsky and the Republic of Buryatia. Financial details of the transaction were not disclosed.