22.Jan .2021 13:00

How much revenue does RMG Gold have?

How much revenue does RMG Gold have?
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RMG Holding is the largest gold and copper mining group in Georgia, which unites RMG Copper and RMG Gold.

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

According to Forbes, the assets of both Korzhev and Troitsky are estimated at 1 billion USD. Korzhev and Troitsky were classmates who made a fortune trading in cars the early in 1990s and later founded one of Russia’s most successful retail chains, O’Key. According to Bloomberg, Russian businessmen bought RMG Holding in 2012, valued at 120 million USD.

According to RMG Gold 2019 audit reports, the company had total revenue of 237,928,000 GEL. RMG Gold's total sales increased by 13.3% comparing to 2018.

As for the company's net profit, it amounted to 22,177,000 GEL. The company’s profit is almost halved comparing to 2018, the net profit has amounted to 43,979,000 GEL in 2019.

According to the balance sheet of RMG Gold, as of December 31, 2018, the total assets of the company amounted to 349,957,000 GEL.

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 extraction of mineral resources of 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 - 183,208,000 GEL;
• Income from the sale of copper ore - 40,086,000 GEL;
• Income from the sale of silver - 1,105,000 GEL.