Russia to auction $1.73 billion in seized gold mining assets by May 2026
Russia's Federal Agency for State Property Management (Rosimushchestvo) has announced the sale of assets belonging to PJSC Yuzhuralzoloto Group (YUGK), with auctions scheduled for early May 2026. The starting price for a 67.2% stake in the company has been set at 140.4 billion rubles ($1.5 billion), while the total market value of all group assets is estimated at 162.02 billion rubles ($1.73 billion), the agency's press service reported.
In addition to the YUGK stake (140.4 billion rubles), the valuation includes shares in several affiliated companies: the group's management company (100% stake; 9.1 billion rubles), Khom (100%; 10.4 billion rubles), Business-Aktiv (100%; 542.4 million rubles), Uraltranskomplekt (100%; 434 million rubles), the Ekokomdul agribusiness complex (67%; 529.8 million rubles), Sady Predgorya (67%; 477.97 million rubles), the Loading and Transport Division (100%; 18 million rubles), and the Korkinsky Excavator and Wagon Repair Plant (1% stake; 13.47 million rubles). An 80% stake in Arbat-City was valued at just 1 ruble.
Rosimushchestvo noted that a draft government decree has been prepared to authorize the sale of the assets through open competitive bidding. Prospective buyers will have five business days to submit applications and pay a deposit equal to 20% of the starting price—32.4 billion rubles ($346 million).
On April 20, YUGK shares on the Moscow Exchange surged by 8.25%, reaching 0.7999 rubles, according to trading data.
The controlling stake in YUGK was previously owned by the company's founder, Konstantin Strukov. However, in July 2025, following a court ruling, the group's management company was transferred to state ownership, and Rosimushchestvo took control of the 67% stake in Yuzhuralzoloto. Russian Finance Minister Anton Siluanov had stated that the confiscated assets would be sold to new owners.
Initially, the Finance Ministry had planned to sell the controlling stake in YUGK by the end of 2025, but in October, Deputy Finance Minister Alexey Moiseev suggested the deal could proceed in two stages, with completion in the first half of 2026.
On March 16, bailiffs ordered the freezing of Yuzhuralzoloto's bank accounts, blocking 32.1 billion rubles ($343 million). In February 2026, the Moscow City Court ruled that YUGK—including through its subsidiaries—must transfer all undistributed profits from 2025 and prior years, totaling at least 33.29 billion rubles ($356 million), to a court deposit account.
On March 26, the company announced that bailiffs had lifted the enforcement measures previously imposed on YUGK's funds.
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