USM Gold

History

2022: Establishing a Company

At the end of January 2022, it became known about the creation by the holding USMAlisher Usmanov and partners of USM Gold, designed to invest in gold mining projects.

According to RBC, the authorized capital of Uesam Gold LLC amounted to 500,000 rubles. The company is registered in Moscow, 100% owned by Uesam Holding Company LLC, SPARK shows. The largest shareholders of the holding are Usmanov, Vladimir Skoch (father of State Duma deputy, billionaire Andrei Skoch) and Varvar Skoch. USM was not previously engaged in gold mining, but it owns several metallurgical enterprises, including one of the largest in Russia - Metalloinvest.

Usmanova holding created a company to manage gold mining assets

By January 27, 2022, the only USM Gold asset is Fedorovskoye, which owns a exploration license. USM Gold controls 75% of the enterprise, another 25% - at the state holding Rosgeologia. The latter received a geological exploration license for the gold ore Fedorov-Kedrovskaya Square in Khakassia in the summer of 2021.

The growing interest of investors in the acquisition of gold assets reflects growing foreign exchange risks in the market, said Sergey Grishunin, managing director of the NRA rating service. When commodities are more expensive, gold is usually not, and when there is a decline in commodity markets, it is just growing. In 2008, when Severstal began to buy gold assets, there were quite a few questions about this strategy.

Today we see that the bet on gold has completely paid off, and we have before our eyes an example of creating Nordgold [based on these assets] - a large international player with a high-quality set of assets, "said Grishunin. Gold remains an undervalued asset amid the impending inflationary wave in the world, so buying a gold mining business looks like a defensive strategy, the expert notes.[1]

Notes