Sales of gold bars and concentrates from Polymetal's Russian mines to Asian markets returned to a normal schedule after a significant slowdown related to COVID in April and May. Gold bar and concentrate sales from Kazakhstan continue as normal. However, silver bullion inventories continue to accumulate in the absence of reliable export channels. The company...

Polymetal plans to invest $130mn in the construction of power plants in Kazakhstan for its own needs over the next 5 years. The company is considering construction of solar power plants, gas piston power plants and hydro power plants in the East Kazakhstan and Kostanai regions, with a total capacity of about 100 MW.

Polymetal postponed the start of production facility construction at the Veduga gold project in the Krasnoyarsk region by 12-18 months. The postponement is due to the redesign of the project for equipment from China and Russia. The ore reserves of the deposit are 4 million ounces of gold. Polymetal planned to invest $447 million in the project.

Polymetal plans to publish a roadmap for the separation of its asset structure across different jurisdictions in July 2022, the company's head Vitaly Nesis said. At the same time, the head of the company said that Polymetal is not considering a share buyback, as well as the intention to maintain a premium listing on the LSE, as it is an important element of...