Shares of Peter Hambro Mining Plc, Russia’s third-biggest gold miner, plunged for a second day after the government said the company may lose Siberian licenses and have its reserves reviewed. Russia’s environmental inspectorate said yesterday it filed to revoke two gold and three chrome permits, held by OAO Yamal Zoloto and OAO Kongor-Chrome., subsidiaries of London-based Peter Hambro.

The shares dropped 131 pence, or 13 percent, to 894 pence in London as of 3:17 p.m. local time, valuing the company at ₤718.8 million ($1.41 billion). The stock has slumped 25 percent since Nov. 28, its biggest two-day decline since the company began trading in London in April 2002.

Peter Hambro, the company’s chairman and founder, said yesterday the company had met with Ministry of Natural Resources officials this summer. The officials approved the gold producer’s geological methods, he said.

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