Russian venture capital outfit Renova has acquired a large share in Russia's second biggest producer of platinum, Koryakgeoldobycha.

The company now plans to purchase the firm's control stock in the near future, according to Kommersant.

Previously Koryakgeoldobycha was owned by a number of different Russian companies including Koen, New Technologies, Desi-Holdings, TASh, Vilyu and Kon Geo.

A remaining 32.14 per cent share was also owned by Russian citizens.

Andrey Shtorkh, a spokesman for Renova, confirmed the acquisition and said: "It is true that one of the Renova-Project companies recently purchased a stock at Koryakgeoldobycha."

The company is now in negotiations with KGD, which has a large share in Koryakgeoldobycha and it is hoped Renova will be able to obtain its control stock.

"The purchase of Koryakgeoldobycha fits the logic of our finishing the production chain, where Ekaterinburg Non Ferrous Metals Plant (EZTsM) is already present," Mr Shtorkh added.

However any details on the transaction conditions, size or price were not revealed.

Renova has attempted to enter the platinum mining sector in the past, with the company revealing it was seeking a mining and refining platinum project in South Africa in February.