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History

2014

  • Polymetal announces about acquisition of the Kyzyl gold project in Kazakhstan in May
  • Ore reserve estimate for the Svetloye heap leach gold project

2013

  • Mayskoye flotation plant started and ramped up
  • Listing of ordinary shares on the Moscow Stock Exchange
  • Acquisition of the Svetlobor platinum exploration project
  • Acquisition of Maminskoye gold deposit
  • The Amursk POX achieved its full capacity and design recovery
  • Open-pit mining started at the Dalneye gold and silver mine (Omolon hub)

2012

  • First gold poured at the Amursk POX hub - the first operating gold POX plant in the Former Soviet Union
  • Inaugural dividend payment in respect of 2011 made in June
  • Dramatic increase in the resource base at the Albazino gold project. Albazino flotation plant achieves design throughput and recoveries 
  • Sopka high-grade ore processing using the newly commissioned Merrill Crowe circuit commenced in March (Omolon hub)
  • Open-pit mining started at the Tsokol gold mine (Omolon hub)
  • Acquisition of Olcha gold and silver deposit

2011

  • Polymetal International plc admitted to trading on the Official List of the London Stock Exchange and joined the FTSE100 index, raising US$ 763m from IPO
  • Beginning of underground mining at Mayskoye
  • Successful start-up of the Albazino concentrator in April and further ramp-up. First concentrate sales to China

2010

  • Inclusion of JSC Polymetal into the FTSE Gold Mines Index
  • The Omsukchan concentrator (Dukat hub) capacity expanded to 1,500 ktpa
  • The Voro CIP plant capacity expanded to 940 ktpa
  • The first gold dore bar was poured at the Kubaka plant (Omolon hub), a year ahead of schedule
  • Acquisition of the Avlayakan and Kirankan gold and silver deposits and Svetloye gold deposit (promising stand-alone exploration projects)

2009

  • Beginning of an open-pit mining at the Albazino gold mine
  • Ozerny deposit (Khakanja hub) discovered
  • Polymetal acquired the Mayskoye deposit from Highland Gold
  • Acquisition of the Sopka Kvartsevaya gold and silver deposit, a significant source of high grade mineral resources, and Dalnyi mineral property (Omolon hub)
  • Acquisition of the Goltsovoye silver mine, a very high-grade additional feed to the Dukat hub
  • Acquisition of the Varvara gold-copper mine in Kazakhstan together with its processing facility
  • Inclusion of JSC Polymetal to the MSCI index

2008

  • Acquisition of Kubaka (Omolon hub) from Kinross Gold Corporation
  • Creation of the Dukat hub by merging the Dukat and the Lunnoye operating units
  • Acquisition of the Degtyarskoye gold mine, additional high-grade reserves to feed the Voro CIP plant

2007

  • Open-pit mining at Yuriveskoye (Khakanja) started
  • JSC Polymetal initial public offering (IPO) on the London Stock Exchange (GDR’s) and on the Russian RTS and MICEX exchanges

2006

  • Albazino licence acquired

2005

  • Lunnoye processing plant capacity expanded to 850 Ktpa with the addition of a parallel grinding circuit
  • The CIP plant commissioned at Voro with a production capacity of 450 ktpa

2002

  • Open-pit mining at Khakanja started

2001

  • Open pit mining restarted at the Dukat mine

2000

  • Acquisition of the Dukat mine and concentrator
  • Open pit mining started at the Lunnoye mine

1999

  • Acquisition of the Lunnoye mine
  • Beginning of mining at Voro

1998

  • JSC Polymetal established in St. Petersburg by the ICT Group
  • Acquisition of the Voro gold deposit
  • Acquisition of the Khakanja and Yuriveskoye gold and silver deposits

Corporate development

Polymetal was incorporated in Saint Petersburg in 1998 by CJSC ICT (now controlled by Mr. Alexander Nesis) with the goal of creating a Russian mining company that would use state-of-the-art technology from exploration to bullion production, and capitalise on opportunities to commercially develop the results of Soviet era exploration.

In November 2005, control over JSC Polymetal (a holding company of the Group) was acquired by OAO GNK Nafta Moskva (Cyprus) Limited and transferred in August 2006 to Nafta Moskva (Cyprus) Limited (both controlled by Mr. Suleiman Kerimov).

In February 2007, JSC Polymetal held an initial public offering, as a result of which 24.4% of JSC Polymetal shares were placed to institutional investors. In conjunction with the initial public offering, the shares of JSC Polymetal were listed on the RTS and MICEX exchanges in Russia and the GDRs representing such shares were listed on the London Stock Exchange.

In June 2008, an affiliate of Nafta Moskva (Cyprus) Limited sold all of its shares in JSC Polymetal (68%) to three parties: Powerboom Investments Limited, a Cypriot entity that is ultimately beneficially owned by Mr. Alexander Nesis (23.97%), the founding shareholder of the Company; Pearlmoon Limited, a Cypriot entity owned by PFF Group N.V., which is controlled by Mr. Petr Kellner (24.82 %); and Vitalbond Limited, a Cypriot entity that is ultimately beneficially owned by Mr. Alexander Mamut (19.02 %).

Polymetal International plc was incorporated in Jersey in July 2010 to become the new holding company of JSC Polymetal and seek admission of its shares to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange.

On November 2, 2011 Polymetal International plc was admitted to trading on the Official List of the London Stock Exchange raising US$ 763m from the IPO. 

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