Polymetal International is one of the world’s largest producers of primary silver and second largest gold mining company in Russia. The Company’s production and exploration facilities in Russia span across four regions – Magadan, Chukotka, Khabarovsk and Sverdlovsk. The company also has substantial operations in Kazakhstan, as well as Armenia.
Polymetal International carries out full range of deposit development, from initial exploration all the way to production. One of the key elements of the Company’s strategy is to establish large processing hubs, positioning the extractive operations around them in order to maximise staff and cost efficiencies, and to optimise return on investment.
In November 2011, Polymetal International was the first Russian gold miner to complete a premium listing on the London Stock Exchange (Ticker: POLY).
Polymetal has operated in Kazakhstan since the fourth quarter of 2009, when the Company acquired Varvara gold and silver deposit in the Kostanay region. The facility, which includes processing and gold recovery plants, has a capacity of 4.2 Mtpa. Varvara’s output consists of gold-copper concentrate and gold-bearing alloy.
In September 2014, Polymetal International completed the acquisition of the Kyzyl gold project in north-eastern Kazakhstan. The Kyzyl Project includes Bakyrchik, one of the largest gold deposits in Kazakhstan. The first concentrate is expected in the second half of 2018.
In 2016, Polymetal acquired the Komarovskoye deposit in Kostanay region of Kazakhstan. This project complements the Varvara hub by adding to its raw materials base, reducing costs and extending its operational life.