Mining giants Petropavlovsk and UGC explore merger

Petropavlovsk, London’s best performing listed gold miner last year, is studying a potential merger with UGC in a deal that would catapult the pair into the upper echelons of the gold mining industry. Discussions between the two mining giants are currently at an early stage, but the deal could “definitely happen”, Petropavlovsk chief Pavel Maslovskiy told The Telegraph. Earlier this year, the privately-owned Russian gold miner UGC took a large stake in Petropavlovsk, which owns