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.
Find latest Mineral Resources and Ore Reserves updates here
Summary
Breakdown by assets
Mineral Resources and Ore Reserves as at 1 January 2023
Mineral Resources |
Tonnage, Mt |
GE grade, g/t |
Gold, Moz |
Silver, Moz |
Copper, Kt |
GE, Moz |
Measured |
26.9 |
3.6 |
2.5 |
43.3 |
3.3 |
3.1 |
Indicated |
55.8 |
4.1 |
6.3 |
85.9 |
143.8 |
7.3 |
Measured + Indicated |
82.7 |
3.9 |
8.8 |
129.2 |
147.1 |
10.4 |
Inferred |
94.1 |
5.1 |
14.3 |
83.8 |
17.7 |
15.4 |
Measured + Indicated + Inferred |
176.8 |
4.5 |
23.1 |
212.9 |
164.8 |
25.8 |
Ore Reserves |
Tonnage, Mt |
GE grade, g/t |
Gold, Moz |
Silver, Moz |
Copper, Kt |
GE, Moz |
Proved |
68.1 |
2.8 |
5.5 |
44.4 |
36.4 |
6.0 |
Probable |
165.3 |
4.0 |
19.2 |
166.9 |
34.1 |
21.3 |
Proved + Probable |
233.5 |
3.6 |
24.7 |
211.3 |
70.5 |
27.3 |
PGM Mineral Resources as at 1 January 2023
|
Mt |
Pd, g/t |
Pt, g/t |
Au, g/t |
Cu, % |
Pd, Moz |
Pt, Moz |
Au, Moz |
Cu, Kt |
Measured |
6.8 |
0.2 |
0.3 |
0.7 |
0.11 |
0.0 |
0.1 |
0.2 |
7.2 |
Indicated |
140.6 |
0.1 |
0.3 |
0.7 |
0.1 |
0.6 |
1.1 |
3.1 |
142.2 |
Measured + Indicated |
147.3 |
0.1 |
0.3 |
0.7 |
0.1 |
0.7 |
1.2 |
3.3 |
149.5 |
Inferred |
9.2 |
0.1 |
0.2 |
0.7 |
0.1 |
0.0 |
0.1 |
0.2 |
8.2 |
Measured + Indicated + Inferred |
156.5 |
0.1 |
0.3 |
0.7 |
0.1 |
0.7 |
1.3 |
3.5 |
157.7 |
Reserves and Resources as at 1 January 2023
Dukat operations
Ore reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Dukat |
4.7 |
0.3 |
185 |
- |
2.8 |
52 |
27.8 |
- |
413 |
Lunnoye |
1.3 |
1.5 |
180 |
- |
3.8 |
61 |
7.4 |
- |
159 |
Perevalnoye |
0.6 |
- |
325 |
- |
4.3 |
- |
6.5 |
- |
87 |
Primorskoye |
0.1 |
5.6 |
1 340 |
- |
22.5 |
21 |
5.0 |
- |
84 |
Total |
6.7 |
- |
- |
- |
3.4 |
134 |
46.8 |
- |
743 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Dukat |
4.5 |
0.8 |
408 |
- |
6.1 |
111 |
58.9 |
- |
876 |
Lunnoye |
2.0 |
1.5 |
356 |
- |
6.1 |
95 |
23.0 |
- |
398 |
Perevalnoye |
0.2 |
- |
360 |
- |
4.8 |
- |
2.4 |
- |
32 |
Primorskoye |
0.1 |
6.3 |
1.6 |
- |
27.8 |
18 |
4.7 |
- |
81 |
Total |
6.8 |
- |
- |
- |
6.3 |
224 |
89.0 |
- |
1,386 |
Kyzyl
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
56.2 |
5.2 |
- |
- |
5.2 |
9,329 |
- |
- |
9,329 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
16.8 |
4.1 |
- |
- |
4.1 |
2,220 |
- |
- |
2,220 |
Omolon operations
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Birkachan |
1.4 |
4.0 |
7 |
- |
4.0 |
182 |
0.3 |
- |
186 |
Tsokol Kubaka |
0.2 |
3.3 |
6 |
- |
3.4 |
18 |
0.0 |
- |
18 |
Burgali |
0.9 |
8.9 |
20 |
- |
9.1 |
250 |
0.6 |
- |
256 |
Nevenrenkan |
0.6 |
6.8 |
505 |
- |
11.3 |
121 |
8.9 |
- |
201 |
Total |
3.0 |
- |
- |
- |
6.8 |
571 |
9.9 |
- |
661 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Birkachan |
3.5 |
3.3 |
8 |
- |
3.4 |
368 |
0.9 |
- |
378 |
Tsokol Kubaka |
0.1 |
7.0 |
8 |
- |
7.1 |
31 |
0.0 |
- |
31 |
Burgali |
0.9 |
10.2 |
19 |
- |
10.4 |
290 |
0.5 |
- |
296 |
Nevenrekan |
0.1 |
7.9 |
410 |
- |
11.6 |
30 |
1.6 |
- |
45 |
Kegali |
0.4 |
6.7 |
98 |
- |
7.9 |
86 |
1.3 |
- |
101 |
Tumanin |
0.3 |
8.4 |
76 |
- |
9.4 |
69 |
0.6 |
- |
77 |
Total |
5.3 |
- |
- |
- |
5.5 |
875 |
4.9 |
- |
928 |
Albazino
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Albazino |
9.5 |
3.7 |
- |
- |
3.7 |
1,147 |
- |
- |
1,147 |
Kutyn |
8.3 |
3.2 |
- |
- |
3.2 |
844 |
- |
- |
844 |
Total |
17.8 |
- |
- |
- |
3.5 |
1,991 |
- |
- |
1,991 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Albazino |
12.6 |
4.6 |
- |
- |
4.6 |
1,859 |
- |
- |
1,859 |
Talgiy |
8.1 |
3.7 |
- |
- |
3.7 |
960 |
- |
- |
960 |
Kutyn |
4.6 |
4.5 |
- |
- |
4.5 |
663 |
- |
- |
663 |
Total |
25.3 |
- |
- |
- |
4.3 |
3,482 |
- |
- |
3,482 |
Mayskoye
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
7.7 |
7.0 |
- |
- |
7.0 |
1,753 |
- |
- |
1,753 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
11.3 |
9.1 |
- |
- |
9.1 |
3,282 |
- |
- |
3,282 |
Svetloye
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
3.7 |
2.8 |
- |
- |
2.8 |
328 |
- |
- |
328 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
3.2 |
1.4 |
- |
- |
1.4 |
139 |
- |
- |
139 |
Voro hub
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Voro |
5.9 |
1.5 |
3 |
- |
1.6 |
288 |
0.6 |
- |
292 |
Maminskoye |
10.3 |
2.5 |
- |
- |
2.5 |
815 |
- |
- |
815 |
Saum |
0.7 |
2.0 |
46 |
2.6 |
2.4 |
42 |
0.1 |
16.9 |
50 |
Pesherny |
2.6 |
4.7 |
- |
- |
4.7 |
385 |
- |
- |
385 |
Galka |
0.7 |
2.8 |
89 |
1.91 |
3.4 |
60 |
1,938 |
12.9 |
74 |
Tamunier |
0.5 |
3.9 |
8 |
- |
3.9 |
65 |
138 |
- |
67 |
Total |
20.6 |
- |
- |
- |
2.5 |
1,655 |
3.7 |
29.9 |
1,683 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Voro |
0.5 |
0.7 |
2 |
- |
0.7 |
11 |
31 |
- |
12 |
Maminskoye |
3.2 |
2.4 |
- |
- |
2.4 |
249 |
- |
- |
249 |
Saum |
0.1 |
1.7 |
46 |
1.48 |
2.0 |
5 |
130 |
1.3 |
6 |
Pesherny |
0.3 |
4.7 |
- |
- |
4.7 |
39 |
- |
- |
39 |
Galka |
0.2 |
2.5 |
81 |
2.08 |
3.3 |
14 |
0.5 |
1.2 |
18 |
Tamunier |
0.1 |
3.0 |
12.0 |
- |
3.1 |
7 |
0.0 |
- |
7 |
Pavlov |
6.9 |
2.6 |
1.0 |
- |
2.6 |
568 |
0.2 |
- |
571 |
Andrei |
1.8 |
2.9 |
4.0 |
- |
2.9 |
162 |
0.3 |
- |
165 |
Total |
13.0 |
- |
- |
- |
2.6 |
1,1 |
1.1 |
2.6 |
1,067 |
Varvara operations
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Varvara |
19.0 |
0.9 |
- |
0.5 |
0.9 |
551 |
- |
40.6 |
551 |
Komar |
19.9 |
1.6 |
- |
- |
1.6 |
996 |
- |
- |
996 |
Elevator |
10.9 |
1.2 |
- |
- |
1.2 |
421 |
- |
- |
421 |
Total |
49.8 |
- |
- |
- |
1.2 |
1,967 |
- |
40.6 |
1,967 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Varvara |
8.7 |
1.1 |
- |
0.57 |
1.1 |
299 |
- |
9.7 |
299 |
Komar |
7.5 |
1.9 |
- |
- |
1.9 |
458 |
- |
- |
458 |
Elevator |
4.7 |
1.6 |
- |
- |
1.6 |
240 |
- |
- |
240 |
Total |
20.8 |
- |
- |
- |
1.5 |
997 |
- |
9.7 |
997 |
Nezhda hub
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Nezhda |
40.6 |
3.5 |
20 |
- |
3.7 |
4,596 |
26.0 |
- |
4,818 |
Prognoz |
8.5 |
- |
460 |
- |
6.1 |
- |
125.1 |
- |
1,667 |
Total |
49.0 |
- |
- |
- |
4.1 |
4,596 |
151.0 |
- |
6,486 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Nezhda |
57.3 |
4.8 |
11 |
- |
4.9 |
8,771 |
19.7 |
- |
8,940 |
Prognoz |
3.9 |
0.0 |
709 |
- |
9.5 |
- |
88.2 |
- |
1,176 |
Total |
61.2 |
- |
- |
- |
5.1 |
8,771 |
107.9 |
- |
10,116 |
Veduga
As at 1 January 2023
Ore Reserves |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
19.0 |
3.9 |
- |
- |
3.9 |
2,407 |
- |
- |
2,407 |
Mineral Resources |
Tonnage, Mt |
Gold grade, g/t |
Silver grade, g/t |
Copper grade, % |
GE grade, g/t |
Gold, Koz |
Silver, Moz |
Copper, Kt |
GE, Koz |
Total |
7.8 |
4.5 |
- |
- |
4.5 |
1,120 |
- |
- |
1,120 |
Viksha (PGM)
PGM Mineral Resources
|
Mt |
Pd, g/t |
Pt, g/t |
Au, g/t |
Cu, % |
Pd, Moz |
Pt, Moz |
Au, Moz |
Cu, Kt |
Measured |
6.8 |
0.2 |
0.3 |
0.7 |
0.11 |
0.0 |
0.1 |
0.2 |
7.2 |
Indicated |
140.6 |
0.1 |
0.3 |
0.7 |
0.10 |
0.6 |
1.1 |
3.1 |
142.2 |
Measured + Indicated |
147.3 |
0.1 |
0.3 |
0.7 |
0.1 |
0.7 |
1.2 |
3.3 |
149.5 |
Inferred |
9.2 |
0.1 |
0.2 |
0.7 |
0.09 |
0.2 |
0.1 |
0.2 |
8.2 |
Measured + Indicated + Inferred |
156.5 |
0.1 |
0.3 |
0.7 |
0.10 |
0.7 |
1.3 |
3.5 |
157.7 |