London-listed Petropavlosk plc visited by Medvedev

By John Bonar

A boost to the profile of Petropavlosk plc is expected when London market watchers recognise the unusual endorsement given to the London-listed miner by Russian President Dmitry Medvedev when he visited three of the company’s operations in the Far East region of Amur last weekend.

Petropavlovsk has invested heavily in gold and iron ore deposits in the Russian Far East and other regions. Most of its assets have yet to come to production and it is sitting, literally, on a mountain of gold while neighbouring China is clamouring for its iron resources sufficient to enter into government-backed financing for the company.

President Dmitry Medvedev visits Pioneer Gold mine in Far East

Dmitry Medvedev attended the launch of a hydrometallurgical plant at the Pioneer gold deposit and of the Olekminsk mining and concentrating plant, which are parts of an ore mining and smelting cluster being established in the Amur Region by Petrovalosk PLC, the London quoted mining company.