Polyus (company)
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| Company type | Public |
|---|---|
| LSE: PLZL;MCX: PLZL | |
| Industry | Gold mining |
| Headquarters | Moscow, Russia |
Key people | Pavel Grachev (CEO) |
| Products | Gold |
| Revenue |  US$4 billion (2019) |
2,959,000,000 United States dollar (2021)  | |
| US$1.58 billion (2019) | |
| Total assets | 8,011,000,000 United States dollar (2021) |
| Owner | Said Kerimov (78.19%)[1][2] |
| Website | www |
Polyus PJSC (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
- Sukhoi Log: one of the world’s largest gold greenfield projects. Estimated gold reserves are 962 mt of ore, grading 2.1 g/t gold for 63 moz of contained gold.
- Other deposits in Krasnoyarsk Krai, Amur Oblast and Irkutsk Oblast
External links
References
- ^ Polyus Annual Review 2018
- ^ Polyus.com - Shareholder structure
- ^ PJSC POLYUS TRADING UPDATE FOR 4Q and 2019
- ^ "Russia's Polyus returns to London, UK investors take half of share offer". Reuters. 2017-06-30. Retrieved 2017-08-09.
- ^ Novinar, Novinar (2019-04-08). "British Investors Buy $200mn Worth of Polyus Shares". Russia Business Today. Retrieved 2019-07-26.
- ^ "Russia's Polyus Gold sold 3.8% SPO for $400mn". www.intellinews.com. 2019-04-04. Retrieved 2019-07-26.
- ^ "Controlling shareholder of Russia's Polyus selling a 3.5% stake via ABB". Retrieved 2019-07-26.
- ^ http://www.nornik.ru/_upload/editor_files/file0083.pdf
- ^ Bream, Rebecca (2006-12-18). "Polyus looks to Western merger". Financial Times. ISSN 0307-1766. Retrieved 2017-08-09.
- ^ "Sale of Polyus-Gold stake to billionaire Kerimov approved - News". russianpartner.biz. Retrieved 2017-08-09.
- ^ 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) - ^ Devitt, Polina. "Russia's Polyus tests markets with London and Moscow share sales". Reuters UK. Retrieved 2017-08-09.
- ^ IntelliNews, bne (2019-04-04). "Russia's Polyus Gold Prepares to Sell 3.5% Stake for $400M". The Moscow Times. Retrieved 2019-07-26.
- ^ "Ore Reserves and Mineral Resources Update — Polyus". www.polyus.com. Retrieved 2017-08-09.
- ^ PJSC Polyus Ore Reserves and Mineral Resources Update, 5 June 2017
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