Support The Moscow Times!

Prokhorov's Onexim Buys Canadian Miner Mercator Minerals

Billionaire politician Mikhail Prokhorov's Onexim Group is buying Canadian miner Mercator Minerals, the Russian company said in a press release Thursday.

Intergeo, a mining firm belonging to Onexim, will merge with Mercator to create a new company, Integeo Mining, which will produce nonferrous metals with a particular focus on copper.

As part of the deal, Integeo Minerals will be listed on the Toronto Stock Exchange. Shareholders in the original Integeo will receive about 85 percent of the stock in the new entity, while 15 percent will go to former shareholders of Mercator Minerals. The Canadian firm operates the Mineral Park copper mine in Arizona, U.S., and owns two mines in Mexico.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.