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

MINEX FORUM | 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 ...

Polymetal ships first concentrate from Kyzyl

MINEX Forum | August 20, 2018
img0 LSE-listed Polymetal has shipped first concentrate from its Kyzyl mine, in Kazakhstan, to a buyer in China, bringing the company closer to achieving cash flow from the asset. The company said that 2 000 t of gold concentrate was shipped by rail. Concentrate shipments to Polymetal’s Amursk POX hub, in Russia, would start next month, ...

Polymetal International is considering building a plant in the city of Sovetskaya Gavan in Russia’s Far East

MINEX FORUM | November 8, 2017
img0 Silver and gold company Polymetal International is considering building a plant to refine refractory gold ore in the city of Sovetsksya Gavan in Russia’s Far East, according to a statement published by the regional government on Tuesday. “The Sovetskaya Gavan’s site has all the necessary infrastructure and suits the new facility perfectly: there is a ...

Polymetal and EBRD came to an agreement regarding the $140-million loan for the Kyzyl project

MINEX FORUM | June 23, 2017
img0 Precious metals miner Polymetal has secured a $140-million loan to finance the remaining capital expenditure for its Kyzyl project, paving the way for operations at the 300 000 oz/y Kazakhstan gold mine to start in the third quarter of 2018. The loan agreement with the European Bank of Reconstruction and Development (EBRD) has a five-year ...