Polymetal is a leading gold and silver producer with a high-quality, low-cost asset base.
Our portfolio comprises 9 producing assets and 3 major development projects across Russia and Kazakhstan. Our investments coupled with a rigorous approach to M&A activity are primarily focused on the turnaround of distressed assets, as well as under-explored near-mine areas with high potential that will contribute to significant long-term growth.
Development and operational track record
- 4 greenfield mining operations built from scratch
- 2 major brownfield re-starts in-house engineering expertise is our competitive advantage
- 3 significant plant expansions
- Experience in various mining (open pit, underground) and processing methods
Kyzyl remains one of the best development-stage gold projects in the world and is now the main source of medium-term growth for Polymetal. With its large high-grade reserves, long mine life and low-capital intensity, it is set to create significant shareholder returns — even at current commodity price levels. Kyzyl has achieved the start-up of the concentrator one quarter ahead of the original schedule and below the original million budget.
It has 7,167 Koz of gold reserves (GE) with 7.8 g/t average reserve grade. Estimated life of mine (Bakyrchik) is over 25 years. IRR (upgraded from feasibility study with Amursk POX expansion) is 20%.