Polymetal will try to convince minority shareholders that a listing on the Moscow Exchange is not necessary for both the company and the investors themselves, said Polymetal's head Vitaly Nesis in a large interview with Interfax. However, holders of small stakes have neither desire nor economic sense to transfer their securities to Astana. Now the company is...

Polymetal plans to start underground mining at Kyzyl in Kazakhstan in 2031, said the company's head Vitaly Nesis. Investment in the project is tentatively estimated at $200-250 mln. While it is at the stage of basic design decisions, detailed design has not yet begun. Polymetal started production at Kyzyl in 2018. Ore mining is carried out by open pit mining...

Polymetal's IFRS net profit for 2023 amounted to $528 million, compared to a loss of $288 million in the previous year. Revenue increased by 8% to $3.025 bln vs. $2.801 bln a year earlier.

Polymetal closed the sale of its Russian business to Sergey Yanchukov's Mangazei structure. Polymetal JSC was valued at $3.69 bln. As a result of the deal, the company reduced its net external debt by $2.20 bln, fully repaid $1.04 bln of intragroup debt after tax and received $300 mln after tax. Polymetal's net cash position now stands at $130 mln. Company w...