icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
15 Feb, 2008 04:49

Severstal acquires Ireland's Celtic Resources

Russian steelmaker Severstal has completed the acquisition of Ireland-based Celtic Resources. Severstal paid 162 million Pounds – that's about $US 319 million – for 100% Celtic, which owns gold and molybdenum mines in Kazakhstan.

Severstal's owner Aleksey Mordashov said he is considering building up a gold business to rank among Russia's top four miners of the precious metal.

He then plans to spin it off as a separate company.

Severstal has been buying undeveloped gold fields in Siberia in the last few months.

Podcasts
0:00
23:13
0:00
25:0