Polymetal plans to sell Russian assets by the end of March – Kommersant
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The head of Polymetal, Vitaly Nesis, said that the company plans to sell Russian assets by the end of March 2024. Polymetal shares (MOEX: POLY) on the Moscow Exchange, against the background of the statement, decreased by more than 4%; at 15:13 Moscow time, the decrease decreased to 2.7%.
“This is our current plan, it is realistic,” Mr. Nesis said at a conference with investors (quoted by TASS).
According to him, in the third quarter of 2024 Polymetal plans to announce the launch of projects in Tajikistan. Vitaly Nesis said that company representatives have already met with the local government and mining companies.
On May 19, 2023, the US Treasury included the Russian structure Polymetal on the sanctions list. In August, the company completed its delisting on the London Stock Exchange (LSE). Vitaly Nesis reported on the transfer of Polymetal from the island of Jersey to the jurisdiction of Kazakhstan and the sale of Russian assets after that.
Polymetal is one of the ten largest gold producers in the world. Today, January 31st, the company published reporting, according to which in 2023 the volume of gold production amounted to 38 tons. The company’s revenue increased by 14%, to $2.13 billion.
Read more about the company’s business in the Kommersant article. “Deceptive Prospects”.
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