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Precious metals refinery in Krasnoyarsk to become a holding company

In 2018, the refinery hit a record with 234 tonnes of gold

KRASNOYARSK, May 29. /TASS/. The Krastsvetmet Refinery, Russia’s biggest gold producer, may become the basis part of a new holding company, the Krasnoyarsk Region’s Governor Alexander Uss said at the North strategic session at the Siberian Federal University, which was devoted to development of the region’s Arctic and northern territories.

In 2018, the refinery hit a record. It produced 234 tonnes of gold. That year, the total of 314 tonnes of gold was produced across the country.

"We are close to making a decision to organize either a joint stock company or a holding company, which could unite Krastsvetmet, the Moscow Plant of Alloys and the Prioksky Non-Ferrous Metals Plant," the governor said, without quoting any time frames.

"We have studied the current situation and certain tax related suggestions will help us to start exporting services," the governor said. "We shall receive for refining scrap metal and non-ferrous metals, which is absolutely new to us."

The Krastsvetmet Refinery is the world’s biggest producer of refined platinum group metals (platinum, palladium, rhodium, iridium, ruthenium, osmium), as well as of gold and silver. The refinery is fully owned by the Krasnoyarsk Region.