Abramovich set to increase stake in Russian gold miner

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Abramovich, who already owns 40% of Highland Gold through his Millhouse Capital investment vehicle, is eyeing at least some of the £100 million worth of shares that have become available in company, which is listed on AIM but operates in Russia.

The stake is being sold by Canada's Barrick Gold, the world's biggest gold producer, which has decided that it is "non-core to its business operations and strategy".

A spokesman for Millhouse declined to say how much of Barrick's stake Abramovich
might buy.