Polymetal will not pay dividends in the coming years

Polymetal in its new strategy does not plan dividends until the launch of Irtysh MMC, an autoclave complex in Kazakhstan. Capex of the project is estimated at $800 mln with a capacity of 250-300 thousand tons of concentrate per year with an output of about 15 tons of gold. Completion of construction and start of commissioning is expected in the second half of 2027.