The management of Polymetal will leave the Russian division

The management of the gold mining company Polymetal will leave the Russian divisions in connection with the sanctions. About it reported in the press office of the company.

“Vitaly Nesis, Chief Executive Officer, and Maxim Nazimok, Chief Financial Officer, have resigned from all senior positions at”Polymetaland its subsidiaries. <...> Pavel Danilin, Executive Vice President of the Group for Strategic Development, completely ceased his labor activity in the company, “Polymetaland its subsidiaries,” the statement said.

It is clarified that Nesis and Nazimok will retain their positions in the parent company and “focus their efforts on the operating activities of the Group’s assets located in the Republic of Kazakhstan.” From now on, the management of assets in Russia will be the leaders of AO Polymetal.

In addition, all service agreements between Polymetal and its Russian subsidiary have been terminated. However, the company will ensure that “assets in Kazakhstan remain unaffected in the current situation.”

On May 19, the US Treasury imposed blocking sanctions on Russian gold mining companies – “Poles” and Polymetal (owns assets in Russia through “Polymetal“).

At the end of May, at the general meeting of shareholders of the company, accepted the decision to move the company from the island of Jersey to the financial hub of the Astana International Financial Center (AIFC) in Kazakhstan.