Polymetal has resumed operation at Kutyn gold deposits in Khabarovsk krai. The company bought the deposits in 2011, but in September 2014 the operations were suspended. Prospecting has been complete only on two thirds of the site. The new round of prospecting will start in April 2018. As of 2015, the estimated gold reserves of…
The European Bank for Reconstruction and Development (EBRD) has signed an agreement to provide a $140 million 5-year loan to silver and gold producer Polymetal International to develop the Kyzyl field in Kazakhstan, the company said in a statement on June 22. “The EBRD loan will finance remaining capital expenditures for the Kyzyl project, which…
Polymetal has received 3 licenses in the Primorye region with the combined reserves of 1 thousand tons of silver and 2 tons of gold. Previously the license-holder for the sites was Primorye Mining Company Vostok. The Kumirny site is the most interesting to the company, as its estimated reserves as of 2010 were 440 tons…
Polymetal Int has acquired additional 25% of shares in the gold deposits Dolinnoye for $1.6 million, having increased its stake to 50%. “With this deal we strengthen our Varvarinsky hub. We expect to start processing ore there in Q3”, the company chief executive director Vitaly Nesis said. The ore reserves of the deposits according to…
Silver and gold producer Polymetal International and UniCredit bank have agreed on terms of a 5-year $200 million loan to finance existing debt from May, the company said in a statement on May 15. Polymetal is also considering options to refinance its $400 million loan with Sberbank due in November 2018 and is in talks…
Group IST of Alexander Nesis, through Powerboom Investments Limited, has increased its share in the gold-mining company Polymetal to 27.13% from 26.87%. Nesis bought 1.895 million shares, or 0.26% of the stake. As the shares are sold at around 10 GBP, the stake purchased can be estimated at 19 million GBP ($25.5 million). Out of…
In 2019 Tau-Ken Altyn plans to produce 25 tons of gold. According to the works financial director Zhanar Rakhimova, a part of gold from the Bakyrchik deposits with high arsenic content Polymetal will export to China for processing, and after that return it to Kazakhstan. Some gold with lower arsenic content will be turned into…
In 2016 Polymetal produced 1.27 million ounces of gold equivalent, up from its target of 1.26 million ounces. The annual gold output totaled 890 thousand ounces, up by 3% YoY, silver – 29.2 million ounces, down by 9% YoY. The gold output plan is 1.4 million ounces for 2017 and 1.55 million ounces in 2018.…