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.
20 August 2018
Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (“Polymetal”, the “Company”) is pleased to announce that Kyzyl has shipped first concentrate to China.
On August 18th, approximately 2000 tonnes of gold concentrate has been shipped by rail to an off-taker in China. Concentrate shipments to the Amursk POX hub are expected to start next month.
In the meantime, the ramp up of Kyzyl is running according to plan. By October, the operation is projected to achieve its nameplate capacity of 150 Kt per month and recoveries of 86%. Polymetal plans to produce 80 Koz of payable gold at Kyzyl this year, ramping up production to 280 Koz in 2019 and 330 Koz thereafter at AISC of approximately US$ 500-550/oz.
“The first shipment of gold concentrate from Kyzyl is a major milestone bringing the company closer to first cash flow from the asset”, said Vitaly Nesis, Group CEO of Polymetal.”
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