Russian sanctions hurt mine magnates
Russia’s mining billionaires are starting to feel the sting of economic sanctions. |||
Yuliya Fedorinova and Alex Sazonov MoscowRussia’s mining billionaires are starting to feel the sting of economic sanctions.Mikhail Prokhorov, whose investment empire stretches from the world’s largest aluminium maker to the Brooklyn Nets basketball team, recently explored whether fellow oligarchs, including Vladimir Potanin, were willing to buy a portion of his $2.7 billion (R29.5bn) stake in potash miner Uralkali, two people familiar with the matter said. The reason: the sinking value of his Russian holdings meant he would like less debt and more …read more
Source: Independent Online
