Polyus (company)

PJSC Polyus (Russian: ПАО "Полюс") is a Russian gold mining company. It is the largest gold producer in Russia and one of the top 10 gold mining companies globally by output (2.84 million ounces of gold production in 2019).[3] It is headquartered in Moscow and is listed on both the Moscow and London Stock Exchanges.[4] Polyus’ main assets are located in Eastern Siberia and the Russian Far East - in the regions of Krasnoyarsk Krai, Irkutsk Oblast, Magadan Oblast and the Republic of Sakha.

PJSC Polyus
TypePublic
MCX: PLZL
LSE: PLZL
IndustryGold mining
HeadquartersMoscow, Russia
Key people
Pavel Grachev (CEO)
ProductsGold
Revenue$4.01 billion[1] (2019)
$2.22 billion[1] (2019)
$1.94 billion[1] (2019)
Total assets$8.33 billion[1] (2019)
Total equity$1.91 billion[1] (2019)
OwnerSaid Kerimov (77.152%) [2]
Websitewww.polyus.com

The company is controlled by Said Kerimov, son of Russian billionaire and politician, Suleyman Kerimov.[5][6][7]

History

Polyus was founded as Polyus Gold (Russian: Полюс Золото) in March 2006, as a result of a spin-off from the gold assets of Norilsk Nickel.[8]

In May 2006, shares of Polyus Gold were admitted to listing and trading on the Russian stock exchanges RTS and MICEX (both of these later merged to form the Moscow Exchange). In December 2006, ADRs of Polyus Gold were listed and admitted to trading on the London Stock Exchange.[9]

In 2009, the businessman Suleyman Kerimov bought a 37% stake in Polyus Gold from Vladimir Potanin.[10] In 2015, the family of Suleyman Kerimov acquired 59% of Polyus Gold International Ltd (the parent holding company of Polyus Gold) and became the controlling shareholder of Polyus Gold. On 3 December 2015, Polyus Gold International Limited announced the delisting of its shares from the London Stock Exchange.[11]

In 2016, Polyus Gold changed its name to Polyus.

In June 2017, Polyus’s shares were re-admitted to trading on the London Stock Exchange.[12]

In April 2019, Polyus sold a 3.84% stake worth US$390 million in a secondary public offering on the Moscow Stock Exchange.[13]

Operations

Polyus holds the world’s third largest gold reserves with 64.4 million ounces of proven and probable gold reserves, and the second largest mineral resource base globally with 193 ounces of gold.[14]

Operating mines
AssetRegion2019 Production2018 ProductionProven and probable reserves[15]
Olimpiada Krasnoyarsk Krai1,389.2 koz1,321.7 koz26.0 moz
Blagodatnoye Krasnoyarsk Krai420.8 koz415.8 koz9.1 moz
Verninskoye Irkutsk Oblast255.9 koz219.4 koz4.8 moz
Kuranakh Sakha Republic224.7 koz198.9 koz4.3 moz
Natalka Magadan Oblast405 koz132.7 koz15.4 moz
Alluvial deposits in the Bodaybinsky District Irkutsk Oblast145.6 koz145.7 koz0.8 moz

Development and exploration

References
  1. "PJSC Polyus Management Report 31 December 2019" (PDF). Polyus Gold. 12 February 2020. p. 74. Retrieved 12 February 2020.
  2. Polyus.com - Shareholder structure
  3. PJSC POLYUS TRADING UPDATE FOR 4Q and 2019
  4. "Russia's Polyus returns to London, UK investors take half of share offer". Reuters. 2017-06-30. Retrieved 2017-08-09.
  5. Novinar, Novinar (2019-04-08). "British Investors Buy $200mn Worth of Polyus Shares". Russia Business Today. Retrieved 2019-07-26.
  6. "Russia's Polyus Gold sold 3.8% SPO for $400mn". www.intellinews.com. 2019-04-04. Retrieved 2019-07-26.
  7. "Controlling shareholder of Russia's Polyus selling a 3.5% stake via ABB". Retrieved 2019-07-26.
  8. http://www.nornik.ru/_upload/editor_files/file0083.pdf
  9. Bream, Rebecca (2006-12-18). "Polyus looks to Western merger". Financial Times. ISSN 0307-1766. Retrieved 2017-08-09.
  10. "Sale of Polyus-Gold stake to billionaire Kerimov approved - News". russianpartner.biz. Retrieved 2017-08-09.
  11. Editorial, Reuters. "Russia's Polyus Gold announces delisting of shares on LSE". Reuters UK. Retrieved 2017-08-09.
  12. Devitt, Polina. "Russia's Polyus tests markets with London and Moscow share sales". Reuters UK. Retrieved 2017-08-09.
  13. IntelliNews, bne (2019-04-04). "Russia's Polyus Gold Prepares to Sell 3.5% Stake for $400M". The Moscow Times. Retrieved 2019-07-26.
  14. "Ore Reserves and Mineral Resources Update — Polyus". www.polyus.com. Retrieved 2017-08-09.
  15. PJSC Polyus Ore Reserves and Mineral Resources Update, 5 June 2017
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