icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
14 Dec, 2006 08:28

Peter Hambro Mining to keep licences?

Peter Hambro Mining to keep licences?

Deputy Head of Russia’s Federal Service for Environmental Oversight, Oleg Mitvol, has said he is willing to ease pressure on the Peter Hambro Mining company, as long as it co-operates with Russia's environmental objectives.

Mr Mitvol added that the issue of allowing Peter Hambro's companies to keep licences to operate in Russia was subject to discussion. 

The British firm, Russia's third-largest gold miner, has lost almost $US 0.5 BLN in the last two weeks after the environment agency called for the withdrawal of its operating licenses. 

According to Russia's environmental watchdog, the company violated licensing terms and environmental laws. In particular, it accuses the firm of illegally using water resources. 

The move has worried Western investors, who have seen more and more assets brought under state control.

Podcasts
0:00
23:13
0:00
25:0