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Georgian RMG Gold company's total sales increase

Business Materials 22 January 2021 17:09
Georgian RMG Gold company's total sales increase

BAKU, Azerbaijan, Jan. 22

By Tamilla Mammadova – Trend:

According to Georgian RMG Gold 2019 audit reports, the company had total revenue of 237.92 million lari ($72.3 million), Trend reports via the companies' audit report.

RMG Holding is the largest gold and copper mining group in Georgia, which unites RMG Copper and RMG Gold.

RMG Gold's total sales increased by 13.3 percent compared to 2018.

According to the companies' audit report, the owners of their controlling stake are Russian billionaires and business partners Dmitry Troitsky and Dmitry Korzhev.

RMG Gold's total sales increased by 13.3 percent compared to 2018.

As for the company's net profit, it amounted to 22.17 million lari ($6.7 million). The company’s profit is almost halved compared to 2018, the net profit has amounted to 43.97 billion lari ($13.3 billion) in 2019.

According to the balance sheet of RMG Gold, as of December 31, 2018, the total assets of the company amounted to 349.95 million lari ($106.4 million).

RMG Gold or Rich Metals Group was founded in 1994. The main activity of the company is the extraction and processing of gold, copper, and other non-ferrous metals in accordance with the license on the extraction of mineral resources of the Sakdrisi deposit. RMG will mine gold in Bolnisi and Dmanisi districts by January 2042 under this license.

RMG Gold Revenues in 2019:

• Income from gold sales - 183.20 million lari ($55.7 million);
• Income from the sale of copper ore - 40.08 million lari ($12.1 million);
• Income from the sale of silver - 1.10 million lari ($334,525).

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