Polymetal intends to sell Russian assets

Gold miner Polymetal is considering selling Russian assets and plans to invest part of the proceeds in new ventures in Kazakhstan. About this at a teleconference with investors informed head of the company Vitaly Nesis.

“I think that part of the funds will be used to build enterprises in Kazakhstan, and part will be used to pay dividends from Polymetal International”, – quotes the words of Nesis TASS. He called the sale of Russian assets a necessary measure.

Nesis also added that the company plans to resume paying dividends by the end of 2023.

On plans to withdraw from Russian assets in Polymetal told June 5th Then it was reported that the company was considering options to terminate the ownership of JSC “Polymetaland its child structures. It was planned that the Board of Directors by the end of June will prepare a message on options for resolving the issue. At the same time, it was reported that the management of Polymetal would leave the Russian divisions in connection with the sanctions.

August 7 Polymetal successfully completed re-registration from the island of Jersey to the Astana International Financial Center (AIX) in Kazakhstan. Now the exchange in Astana is the main stock exchange of the company. In connection with the procedure, trading in shares on the Moscow Exchange was suspended, and trading on the London Stock Exchange was stopped from August 2.

On May 19, the US Treasury imposed blocking sanctions on the Russian holding company “Polymetaland its subsidiaries.