Exploration joint venture


As part of the Company’s efforts to build and advance long-term growth pipeline, Polymetal is pursuing grassroots, greenfield exploration through joint ventures with junior explorers in order to access promising, untested mineral properties for a reasonable price.

“Our goal is to bring together Polymetal’s financial and permitting clout and juniors’ fresh thinking and fast decision-making”, said Sergey Trushin, Deputy CEO, Mineral Resources.

Typical JV structure:

  • Staged approach (3-5 years) to funding of exploration campaigns via earn-in equity and / or debt financing.
  • Polymetal is granted a call option to acquire a remaining stake.
  • Exit based on JORC-compliant resources or reserves at pre-agreed market valuation.
  • Operatorship left to juniors to enhance decision making process until the controlling stake is acquired.

JVs’ exploration areas

Cyprus (Chesterfield)
Chesterfield Resources PLC
Polymetal’s share:
  • Exploration joint venture
  • Competence center
  • Assets
  • Exploration and development projects

Press releases

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