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Polyus (company)

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PJSC Polyus
Company typePublic
MCX: PLZL
LSE: PLZL
IndustryGold mining
HeadquartersMoscow, Russia
Key people
Pavel Grachev (CEO)
ProductsGold
Revenue$5.44 billion[1] (2023)
$3.17 billion[1] (2023)
$1.73 billion[1] (2023)
Total assets$9.28 billion[1] (2023)
Total equity$−627 million[1] (2023)
Ownerprivate (80.00%) [2]
Websitewww.polyus.com

PJSC Polyus (Russian: ПАО "Полюс") is a Russian gold mining company. It is the largest gold producer in Russia and one of the top 10 gold mining companies globally by output (2.84 million ounces of gold production in 2019).[3] It is headquartered in Moscow and is listed on both the Moscow and London Stock Exchanges.[4] Polyus’ main assets are located in Eastern Siberia and the Russian Far East - in the regions of Krasnoyarsk Krai, Irkutsk Oblast, Magadan Oblast and the Republic of Sakha.

The company is controlled by Said Kerimov, son of Russian billionaire and politician, Suleyman Kerimov.[5][6][7]

History

Polyus was founded as Polyus Gold (Russian: Полюс Золото) in March 2006, as a result of a spin-off from the gold assets of Norilsk Nickel.[8]

In May 2006, shares of Polyus Gold were admitted to listing and trading on the Russian stock exchanges RTS and MICEX (both of these later merged to form the Moscow Exchange). In December 2006, ADRs of Polyus Gold were listed and admitted to trading on the London Stock Exchange.[9]

In 2009, the businessman Suleyman Kerimov bought a 37% stake in Polyus Gold from Vladimir Potanin.[10] In 2015, the family of Suleyman Kerimov acquired 59% of Polyus Gold International Ltd (the parent holding company of Polyus Gold) and became the controlling shareholder of Polyus Gold. On 3 December 2015, Polyus Gold International Limited announced the delisting of its shares from the London Stock Exchange.[11]

In 2016, Polyus Gold changed its name to Polyus.

In June 2017, Polyus’s shares were re-admitted to trading on the London Stock Exchange.[12]

In April 2019, Polyus sold a 3.84% stake worth US$390 million in a secondary public offering on the Moscow Stock Exchange.[13]

Operations

Polyus holds the world’s third largest gold reserves with 64.4 million ounces of proven and probable gold reserves, and the second largest mineral resource base globally with 193 ounces of gold.[14]

Operating mines

Asset Region 2019 Production 2018 Production Proven and probable reserves[15]
Olimpiada  Krasnoyarsk Krai 1,389.2 koz 1,321.7 koz 26.0 moz
Blagodatnoye  Krasnoyarsk Krai 420.8 koz 415.8 koz 9.1 moz
Verninskoye  Irkutsk Oblast 255.9 koz 219.4 koz 4.8 moz
Kuranakh  Sakha Republic 224.7 koz 198.9 koz 4.3 moz
Natalka  Magadan Oblast 405 koz 132.7 koz 15.4 moz
Alluvial deposits in the Bodaybinsky District  Irkutsk Oblast 145.6 koz 145.7 koz 0.8 moz

Development and exploration

Carbon footprint

Polyus Gold reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 2,020 Kt (-380 /-15.8% y-o-y).[16] The decline accelerated compared to the CAGR of -8.6% since 4Q'16.

Polyus Gold's Total CO2e emissions (Direct + Indirect) (in kilotonnes)
Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
3,250[17] 3,290[18] 3,170[19] 3,100[20] 2,380[21] 2,400[22] 2,020[16]

References

  1. ^ a b c d e "PJSC Polyus Annual Report 2023" (PDF). Polyus. 14 February 2024. p. 135. Retrieved 14 February 2024.
  2. ^ Polyus.com - Shareholder structure
  3. ^ PJSC POLYUS TRADING UPDATE FOR 4Q and 2019
  4. ^ "Russia's Polyus returns to London, UK investors take half of share offer". Reuters. 2017-06-30. Retrieved 2017-08-09.
  5. ^ Novinar, Novinar (2019-04-08). "British Investors Buy $200mn Worth of Polyus Shares". Russia Business Today. Retrieved 2019-07-26.
  6. ^ "Russia's Polyus Gold sold 3.8% SPO for $400mn". www.intellinews.com. 2019-04-04. Retrieved 2019-07-26.
  7. ^ "Controlling shareholder of Russia's Polyus selling a 3.5% stake via ABB". Retrieved 2019-07-26.
  8. ^ http://www.nornik.ru/_upload/editor_files/file0083.pdf
  9. ^ Bream, Rebecca (2006-12-18). "Polyus looks to Western merger". Financial Times. ISSN 0307-1766. Retrieved 2017-08-09.
  10. ^ "Sale of Polyus-Gold stake to billionaire Kerimov approved - News". russianpartner.biz. Retrieved 2017-08-09.
  11. ^ Editorial, Reuters. "Russia's Polyus Gold announces delisting of shares on LSE". Reuters UK. Retrieved 2017-08-09. {{cite news}}: |first= has generic name (help)
  12. ^ Devitt, Polina. "Russia's Polyus tests markets with London and Moscow share sales". Reuters UK. Retrieved 2017-08-09.
  13. ^ IntelliNews, bne (2019-04-04). "Russia's Polyus Gold Prepares to Sell 3.5% Stake for $400M". The Moscow Times. Retrieved 2019-07-26.
  14. ^ "Ore Reserves and Mineral Resources Update — Polyus". www.polyus.com. Retrieved 2017-08-09.
  15. ^ PJSC Polyus Ore Reserves and Mineral Resources Update, 5 June 2017
  16. ^ a b "Polyus Gold's ESG Datasheet for 2020Q4". Archived from the original on July 25, 2021.
  17. ^ "Polyus Gold's ESG Datasheet for 2018Q4". Archived from the original on February 16, 2021.
  18. ^ "Polyus Gold's ESG Datasheet for 2019Q4". Archived from the original on February 16, 2021.
  19. ^ "Polyus Gold's ESG Datasheet for 2020Q4". Archived from the original on July 25, 2021.
  20. ^ "Polyus Gold's ESG Datasheet for 2020Q4". Archived from the original on July 25, 2021.
  21. ^ "Polyus Gold's ESG Datasheet for 2020Q4". Archived from the original on July 25, 2021.
  22. ^ "Polyus Gold's ESG Datasheet for 2020Q4". Archived from the original on July 25, 2021.
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