Polymetal and Rosgeologiya established a joint venture to carry out geological exploration on Novopetrovskaya Square in the south of Bashkortostan to identify copper-zinc and boulder mineralization. Polymetal acquired for ₽490 million 75% in a subsidiary of the partner, which owns the license for the area, and also received a 7-year call option to buy back the remaining 25% after the reserves were put on the balance of GKZ. In addition, the company will provide loans to finance GKZ reserves valuation works.