U.S. authorities have included Russian gold mining companies Highland Gold and GV Gold (Vysochaishy PJSC) and their founders in the Specially Designated Nationals (SDN) list. Now almost all major Russian precious metal mining companies market are under sanctions, Kommersant reports.
In particular, economic restrictions were imposed on Vladislav Sviblov. In addition to Highland Gold, the businessman owns the Chukotka Mining and Geological Company, Kamchatka Gold and the Ozerny Mining Company. All of these assets have also been sanctioned.
Experts interviewed by the media believe that because of this, the launch of the Ozerny MMC at the lead and zinc deposit of the same name may be postponed. The commissioning of the enterprise is scheduled for 2024.
According to analysts, the sanctions may also affect the price of zinc on world markets.
Kommersant's industry sources emphasize that sanctions against Russian gold miners have failed to radically restrict their activities. Over the past year, these companies have reoriented their supply chains to China, the UAE and Turkey, as well as increased their presence in the domestic market.
Alex Shishlo for Rough&Polished
