Polymetal shareholders approve company relocation to Kazakhstan

The largest Russian silver producer and one of the leading gold miners Polymetal will move to Kazakhstan, – the proposal was adopted by the general meeting of shareholders of the company. This was reported in a press release. Polymetal.

More than 140 million shareholders of the company took part in the voting: the shares of those who voted for the registration of the company in another jurisdiction (redomiciliation) and the conversion of shares amounted to 92% each.

About plans to move to the republic Polymetal announced back in 2022. At the same time, the company said that it had postponed the implementation of the Pacific Hydrometallurgical Plant (AGMK-3) project near the Sovetskaya Gavan seaport in the Khabarovsk Territory for an indefinite period due to difficulties with the supply of equipment.

Now the manufacturer is registered on the island of Jersey (Channel Islands). Redomiciliation can be made to the financial hub of the Astana International Financial Center (AIFC).

In early May, Vitaly Nesis, Chief Executive Officer of the company declaredthat “the political support we received from the highest levels of the Kazakh authorities was at least partly due to the fact that we promised to invest in Kazakhstan.” In addition, one of the arguments in favor of moving Polymetal was a promise to build a hydrometallurgical plant in the republic.