Polymetal produced 1.677 million ounces of gold equivalent for 2021, up 2% from 1.637 million ounces in the previous year. Gold production increased 1% to 1.422 million ounces. Silver production increased 8% to 20.4 million ounces. Gold sales were unchanged at 1.386 million ounces. Silver sales declined 10% to 17.5 million ounces. Revenue increased by 1% to...

FAS has granted Polymetal's application to acquire 40.55% in the Veduga gold project in the Krasnoyarsk region. The company intends to use a call option to buy out VTB's stake at a pre-agreed price with a fixed rate of return and consolidate 100% of the project. The transaction is expected to close in Q2 2022.

Polymetal has submitted an application to the FAS to acquire 40.55% in the Veduga gold project in the Krasnoyarsk region. The company intends to use a call option to buy out VTB's stake at a pre-agreed price with a fixed rate of return and consolidate 100% of the project. The transaction is expected to close in Q2 2022.

Polymetal is investing $447 million in the Veduga gold project in the Krasnoyarsk region. Average annual production over the life of the operation will be 200,000 ounces of gold at a total cash cost of $800 to $850 per ounce of gold equivalent. Polymetal now owns 59.4% of Veduga and a call option to buy the remaining stake from VTB Bank. The asset is planned...