Severstal acquires a stake in Crew Gold
12.02.2010
Moscow. OAO Severstal (LSE: SVST; RT CHMF) acquired, through its subsidiary Bluecone Limited, 335,961,241 common shares in Crew Gold Corporation (“Crew Gold”) at a price of NOK 0.90 (CDN$0.16) per share.
The securities acquired represent ownership and control of approximately 15.71% of Crew Gold’s issued and outstanding common shares. Following this transaction, Severstal will have ownership and control over 423,201,241 Crew Gold common shares, representing approximately 19.79% of the issued and outstanding Crew Gold common shares.
Crew Gold Corporation (http://www.crewdev.com) is a London based gold mining company. The company operates the LEFA mining project in Guinea, West Africa. In 2009, Crew Gold produced 179 030 oz tr.
OAO Severstal (http://www.severstal.com) is an international steel and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. Incorporated in 1993, the Company focuses on high value added and unique niche products and has a track record for operating high-quality assets in North America and Europe. Severstal owns mining assets in Russia and in the US, thus securing its supplies of raw materials. Its enterprises are located in Russia, Ukraine, Kazakhstan, France, Italy, United States and Africa. In 2009, Severstal produced 16.7 million tonnes of steel.
In 2007 Severstal established its Gold business. This now includes a number of gold mining assets in Russia, Kazakhstan and Burkina Faso as well as several gold exploration fields in these regions. In 2009, Severstal gold mines produced 533 967 oz tr.
For further information please contact:
Sergey Loktionov, Public Relations, OAO Severstal
+7 495 9267767 ext. 6446#
sergey.loktionov@severstal.com
