Yuzhuralzoloto, Russia's fourth-largest gold miner, has revived a plan to place up to 25 percent of its shares in London as early as this spring, Russian daily Kommersant said on Thursday, citing the firm's chairman and banking sources.
Yuzhuralzoloto, which mines gold in the Ural mountains and Siberia, previously planned to raise around $150 million (97 million pound) in a 2008 offering, but later shelved the plans following a slump in gold prices on the back of the global economic downturn.
We have been fully ready for two years, have completed all the requirements and are waiting for a window to open, the company's chairman, Konstantin Strukov, was quoted as saying.
He said Yuzhuralzoloto, which produced 215,400 ounces of gold in 2010, has yet to pick banks to manage the plans. Strukov declined to disclosed pricing details of the possible offering.
On Thursday, Russian steelmaker Severstal's
(Reporting by Vladimir Soldatkin; Editing by Matt Driskill)