Peter Hambro Mining yesterday announced its first investment outside of Russia. The London-listed gold miner will lead a syndicate that includes BlackRock, GLG and Lansdowne in making a secured exchangeable loan of $80m (£41m) to Toronto-listed Rusoro Mining. Each will invest $20m.
Rusoro operates in Venezuela where it has 12.8m ounces of resources. Production is expected to reach 120,000 ounces a year in the coming months. The largest shareholder is Gold Fields of South Africa, which has a 36 per cent stake.
