Exploration joint venture

Polymetal has completed the divestment of its Russian business on 7 March 2024. Please see the relevant announcement at the link. Operating and financial results as well as other information on this website until 7 March 2024 represent the Group in its former organizational structure, i.e. including Russian business, unless otherwise stated.


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.

    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.

Press releases

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