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Russian Industry Ministry supports sale of Kinross assets in Russia

Earlier, it was reported that the company made an agreement with Highland Gold Mining on the sale of its Russian assets for $680 mln

MOSCOW, April 5. /TASS/. The Russian Ministry of Industry and Trade supports the sale of Kinross gold miner’s assets in Russia and the transaction will be considered by the government commission on foreign investments, Minister Denis Manturov said on Tuesday.

"The Russian Ministry of Industry supports acquisition of Russian assets of Kinross gold miner by Highland Gold. The transaction will be reviewed at the next meeting of the government commission on foreign investments," the ministry’s press service said, citing the Minister.

"Kinross Gold followed the second option of three ones suggested by the government, having chosen the civilized way of withdrawal from Russian projects. We therefore support such transaction: it will result in a stable flow of tax earnings, keeping of jobs and support of social projects in regions of presence," Manturov said.

Kinross Gold made an agreement with Highland Gold Mining on the sale of its Russian assets for $680 mln, the Canadian gold miner said earlier on Tuesday.