Russia has sold a 67.2% controlling stake in major gold producer Yuzhuralzoloto to Moscow-based BTS-Most Holding for 93 billion rubles, approximately $1.3 billion. The transaction closed on June 19 after three previous auctions in May and June failed to attract qualified bidders.
The final sale price represents a significant markdown from the initial asking price of 162 billion rubles. The Federal Property Management Agency had valued the stake at roughly $1.85 billion as recently as April, but the eventual buyer secured the asset at a 43% discount to the original ask and 34% below the agency's valuation.
Yuzhuralzoloto remains a critical industrial asset, producing 385,800 troy ounces of gold in 2025. The state seized the company from businessman Konstantin Strukov in July 2025 amid allegations of illegal asset control. This sale is part of a broader nationalization campaign that has confiscated an estimated $50 billion in assets since the start of the Ukraine conflict.
This discounted transaction establishes a new pricing benchmark for future Russian asset sales. With billions in seized holdings still pending liquidation, market participants now recognize they can wait out initial auctions to negotiate from a position of strength.