Petropavlovsk has denied it is considering selling off a major new processing hub it is building in the far east of Russia, as it looks to quell a worker rebellion.
The gold miner shot down both reports in the Russian press and claims made in an open letter from trade unions that it would sell its pressure oxidation (POX) plant, which it hopes to complete by the end of the year.
The POX hub is intended to boost Petropavlovk's gold output and has been in development on and off for eight years.
“To suggest POX is for sale in an open letter to shareholders is irresponsible. POX is not for sale and is central to the company’s future growth strategy,” a spokesman said.
A letter signed by 386 union...