New exploration JV with a junior in Chukotka

MINEX Forum | May 29, 2019
img0 Polymetal formed a partnership with a company associated with Mineral Exploration Network (Finland) Ltd (“MEN”) for early-stage exploration in the Chaunsk region of Chukotka, Russia. “Our strategy of working with junior explorers is gaining momentum”, said Vitaly Nesis, Group CEO of Polymetal. “MEN has extensive and varied experience in using advanced state-of-the-art methods of prospecting ...

Russia considers export ban on precious metals scrap

MINEX Forum | March 18, 2019
img0 Russia’s trade and industry ministry is considering a temporary ban on the export of precious metals scrap and tailings, the ministry said, to promote domestic refining of the materials. The proposed ban would last from May 1 to Oct. 31 this year, the Kommersant newspaper reported earlier, citing ministry documents. Russian precious metal refining facilities ...

Record output drives revenue at Russia’s Polymetal up 11% in Q4

MINEX Forum | February 4, 2019
img0 Russian gold and silver producer Polymetal reported on Thursday an 11% rise in fourth quarter revenue, compared to a year earlier, on record high production following a full ramp-up at its mine in Kazakhstan. The London-listed firm, part-owned by businessman Alexander Nesis, launched the Kyzyl mine in Kazakhstanin 2018 and shortly after began construction at its new Nezhda gold mine in Siberia, which will contribute to its dividends in 2022. ...

Russia’s Polymetal starts construction at new gold mine

MINEX Forum | November 13, 2018
img0 Russian gold and silver producer Polymetal has begun construction at its new Nezhda gold mine in eastern Siberia, which will contribute to its dividends in 2022, it said on Monday. The London-listed firm, part-owned by businessman Alexander Nesis, is starting this new project with pre-production capital expenditures estimated at $234 million a few months after ...

Chaarat Gold buys Armenian mine from Russia’s Polymetal for $55m

David McHutchon | November 1, 2018
img0 Chaarat Gold Holdings (LON:CGH), the company that tried buying Centerra’s Kumtor mine in the Kyrgyz Republic, has agreed to acquire Kapan gold mine in Armenia from Polymetal, one of Russia’s largest gold and silver producers. The $55 million deal is part of Chaarat’s intention of becoming a major regional player in Central Asia, with an ...

Polymetal buys remaining 20% stake in Saum deposit in Russia

MINEX Forum | October 16, 2018
img0 Precious metals mining company Polymetal International has purchased the remaining 20% stake in Saum Mining Company, which holds the licence for the Saum polymetallic deposit in Russia. The transaction, which comes after a successful exploration drilling campaign at the property, increases Polymetal’s interest in the Saum deposit to 100%. With resources of 435Koz of gold ...

Polymetal upgrades resource estimate at Prognoz silver deposit in Russia

MINEX Forum | October 16, 2018
img0 Polymetal International said it had upgraded the mineral resource estimate at its Prognoz silver deposit in Russia. The fresh estimate amounted to 256m ounces of silver equivalent at 789 grams per tonne. ‘In-fill drilling results exceeded our expectations and strengthened our belief that Prognoz may succeed Dukat as one of the largest primary silver deposits ...