Russia: Alfa-Bank cuts stake in Polymetal

Alfa-Bank has reduced its stake in Russian precious metals producer Polymetal International by 0.03% to 4.98%, the bank said in a statement on June 11.

The reason for the reduction was not disclosed. (Prime/Ukrainian metal)

Russia: Polymetal creates JV in Chukotka

Polymetal has concluded an agreement with a company affiliated with Mineral Exploration Network (Finland) Ltd (MEN) on the creation of a joint venture to carry out prospecting works in Chukotka Autonomous District. The gold ore to be found by the JV will provide additional raw materials to the Mayskaya factory, able to process both sulfide…

Russia: VTB raises stake in Polymetal after repo deal

Russia’s second biggest lender VTB has raised the stake in Polymetal International plc to 5.15% from 0.16% as a result of a repo deal, the bank said.

The deal took place on May 14. (Prime/Ukrainian metal)

Russia: Polymetal to develop platinum deposit in Karelia in 2025

Polymetal Int will start extracting platinum at the Viksha deposit in Karelia in 2025.

Investments in the deposit are estimated at $500 million.

The development is expected to last for 30 years.

Polymetal bought the Viksha in 2012. And it became its first platinum group deposit. (Ukrainian metal)

Russia: Polymetal gold output up in 2018

In 2018 Polymetal increased gold equivalent output by 9% YoY, to 1.562 million ounces.

Gold manufacture reached 1.216 million ounces, up by 13%.

Silver output fell by 6%, to 25.3 million ounces.

In 2019 Polymetal intends to produce 1.55 million ounces of gold and in 2020 – 1.6 million ounces. (Ukrainian metal)

Russia: Polymetal sales up in 2018

In 2018 Polymetal revenue increased by 4% YoY, to $1.88 billion. Gold sales reached 1.198 million ounces, up by 10%, while silver fell by 3%, to 25.7 million ounces. EBITDA went up by 5%, to $780 million. Net profit was $355 million, up by $1 million. Capital expenses dropped by 10%, to $344 million. The…

Russia: Polymetal to double Amur Works project

The board of directors of Polymetal International plc has approved of the Amur Iron and Steel Works-2 project and allowed the construction. The second line of the Amur Works autoclave department (Amur-2) will considerably increase the company ore reserves, amounting to some 55% of the overall reserves. The manufacture is expected to increase by 30-35…

Russia: Polymetal gold output up in 2018

The gold output of the Russian precious metals producer Polymetal International increased by 13%, to 1.216 million ounces in 2018, the company said in a statement on January 31. Silver production decreased by 6%, to 25.3 million ounces. The company’s total output in gold equivalent grew by 9% YoY, to 1.562 million ounces in the…

Russia: Polymetal exchanges Tarutinskoye deposits

Polymetal International plc has completed the deal to exchange its Tarutinskoye deposits in Russia for an 85% share in the Vostochno-Tarutinskoye deposits in Kazakhstan without additional payment. The deal was announced on April 16. “The Vostochno-Tarutinskoye is a good addition to our Varvarinskoye enterprise, which will simplify operational management by removing difficulties with transferring ore…