Polyus listing switch delayed

Polyus Gold, the Russian gold miner part-controlled by the businessman Mikhail Prokhorov, faces the prospect of a delay in its plans to move to London's FTSE 100 index of leading shares after the Russian Government failed to approve the move.

In a statement yesterday, Polyus said the Russian commission that evaluates potential foreign investment in the country had delayed its decision on whether to approve the plans. "The company expects that the application will be heard at the next meeting of the commission," it added.