Russian companies and Russian entrepreneurs continue to increase their presence among mining companies listed on the London Stock Exchange.
Now Severstal, the largest steelmaker in Russia, has made a bid approach for its first uranium asset in Spain, seeking to diversify its mining business and benefit from an expected rise in European demand for nuclear power.
Severstal has approached London-listed Berkeley Resources about a possible takeover of the uranium exploration company worth about A$304-million, sending Berkeley shares sharply higher in London.