K:CC - Kinross Gold near sale of Russian business to local executive - WSJ

Kinross Gold (KGC +3%) popped in late trading on Wednesday following a Wall Street Journal report it is in exclusive talks to sell its mine in the Russian Arctic to local firm Fortiana Holdings, a deal that if successfully completed could mark the first sale of an asset a Western company is leaving behind in Russia. The sale would include the Kupol mine in the Russian Far East's Chukotka province, according to the report. The value of the potential sale is not known, but one of the difficulties in any sale would involve how to make the payment if a deal proceeds, WSJ notes; Russia has said it could block Western company divestments, while Western sanctions have complicated the flow of money between Russia and other countries. Kinross said Tuesday it was in exclusive talks with an unnamed third-party mining company for a potential sale of 100% of its assets

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Kinross Gold near sale of Russian business to local executive - WSJ