Rus News Journal

Polyus Gold has replaced the chairman

Board of directors Polyus Gold International, created on base the Gold Pole and KazakhGold, the former head Kinross Gold Robert Baken has headed. It will supervise the transaction on merge Polyus Gold to one of foreign competitors which the basic owner of the company Michael Prokhorov hopes to finish till the end of the year.
yesterday dzhersijskaja KazakhGold has informed on end of return absorption (RTO) the Gold Pole Michael Prokhorov and Sulejmana Kerimova. Now KazakhGold, earlier on 65 % belonging to the Pole 89,14 % of the Russian company own. RTO passed by an exchange of actions Poles on papers KazakhGold proceeding from capitalisation of both companies in $13,1 mlrd and $210 million accordingly. Today KazakhGold it will be renamed in Polyus Gold International, and its actions will start to bargain at the London stock exchange.

the company has already replaced structure of board of directors. Into it have entered as the former members of councils Poles and KazakhGold, and new participants. Has headed council the founder Canadian Kinross Gold Robert Baken. The former chairman and general director KazakhGold Evgenie Ivanov in new council will be the unique representative of management of the company.

63 - summer Robert Baken is more than half of life has worked in the mining industry. In 1993 has created the sixth in the world on volumes of extraction Kinross Gold which now develops the Russian deposit richest on gold the Dome (has left the company in 2005). In 2008 was director High River Gold (enters in Nord Gold Severstal Alexey Mordashova). In 2008 - 2009 was the councillor of directors Poles . To this day holds posts of directors in a number of other mining companies.

in Polyus Gold Robert Baken will work in the status of the independent director. On words of mister Ivanov, it Has unique experience of aggressive growth of the gold mining companies through absorption and organic growth . Besides, by the end of the year Polyus Gold hopes to receive the bonus listing which basic requirements is free float not less than 25 % (now 12 %), and also the chairman of the council from among independent directors.

at the following stage Polyus Gold intend to unite with one of foreign competitors comparable on the size - Michael Prokhorov spoke about possibility of carrying out of the transaction till the end of the year. But speech precisely goes not about Kinross, assure sources close to the company. Besides, in the beginning of June Evgenie Ivanov has denied the information that negotiations on a merge theme go with American Newmont Mining, Australian Newcrest Mining and South African AngloGold Ashanti.

for carrying out global transactions Polyus Gold it is necessary the director with a world name The partner rekrutingovogo considers agencies Top Contact Arthur Shamilov. Robert Bakena`s attraction is public relations - the action in the investment market, the exactly same reception which in December head ONEKSIMa Michael Prokhorov has used, becoming the general director Poles before the transaction with KazakhGold, Oleg Petropavlovsky from BKS agrees. How many money the Beacon on a new place of work will receive, to tell difficult, mister Shamilov marks, most likely, the contract will be fastened on optsionnyh programs.