Pursuits
Russian Billionaire's Miner Sees Gold Pain as Buying Opportunity
- Expects cutbacks, focus on cash as foreshadowing output drop
- Planned London listing would require gold to hold about $1,200
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Russian billionaire Alexey Mordashov’s gold mining company is positioning for a price recovery by buying more assets, defying an industry trend of cutbacks and closures.
Besides expanding existing mines in Russia, Nordgold NV is looking for early-stage projects that improve its reserve base, Chief Executive Officer Nikolai Zelenski said in an interview Monday from the Denver Gold Forum.