Economy

Russia nationalizes the largest gold mining company

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Russia nationalizes the largest gold mining company

A court in Chelyabinsk nationalized shares of Yuzhuralzoloto at the request of the Prosecutor General’s Office

The company belongs to the deputy chairman of the Chelyabinsk Legislative Assembly Konstantin Strukov.

The Soviet District Court of Chelyabinsk satisfied the claim of the Prosecutor General’s Office to seize in favor of the state the share of Yuzhuralzoloto and other assets of the billionaire, vice-speaker of the regional Legislative Assembly Konstantin Strukov, his relatives and entourage, 74 .RU writes with reference to the court’s decision.

Earlier, the Prosecutor General’s Office demanded that Strukov’s company Yuzhuralzoloto be transferred to the state. The holding ranks fourth in gold production – about 450 thousand ounces per year, and its capitalization exceeds 180 billion rubles.

According to the department, Strukov violated the ban on entrepreneurial activity for civil servants and illegally seized the property of the company he previously headed, creating on its basis PAO Yuzhnouralzoloto Group of Companies (UGC). Currently, shares and control over Yuzhuralzoloto are registered in the name of Strukov’s daughter Alexandra, who has Swiss citizenship, and trusted persons.

On July 2, searches were conducted in the offices of the company and related organizations in the Chelyabinsk region. The investigation is related to violations of environmental standards and industrial safety at deposits in the Plastovsky and Etkulsky districts.

Illustrative Photo by Pixabay: https://www.pexels.com/photo/gold-bar-lot-47047/