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By John Helmer in Moscow After Far Eastern Shipping Company (Fesco), Russia’s dry-cargo fleet leader, lost 22% off its share price in the past week, Moscow investment bank Renaissance Capital has issued an investment warning that the plummeting rate for container shipping between Asia and Europe “creates a major headwind for FESCO”. Fesco (ticker FESH:RU), […]

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By John Helmer in Moscow Roman Abramovich’s holding company Millhouse has obliged two of its Russian steelmaking partners, Alexander Abramov and Alexander Frolov, to buy an indirect stake of 9.99% in Highland Gold Mining. No explanation for the move has been issued, either by Highland Gold, or by Millhouse; or by Abramov and Frolov, who […]

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By John Helmer in Moscow With a 17-line announcement the Toronto-listed Archangel Diamond Corporation (ADC), a De Beers-affiliated company, has cancelled its agreement to mine diamonds in the Arkhangelsk region of northwestern Russia. Almost twenty years of exploration and mining effort, including the first major diamond discovery in western Russia for a century, have been […]