$9.9billion (MOEX mkt cap) Russian gold miner looks to list on London Stock Exchange

By Dale Benton
A Russian gold miner has announced its intention to list on the London Stock Exchange, coming off the back of a $9.9 billion market cap in Moscow. Poly...

A Russian gold miner has announced its intention to list on the London Stock Exchange, coming off the back of a $9.9 billion market cap in Moscow.

Polyus, the eighth largest gold producer globally and the second largest gold company in the world in terms of reserves, will look to strengthen its position as the lowest cost top-10 producer globally, with a “clear strategy for long term, sustainable growth.”

The company is coming off the back of success after success, with a 19 percent ramp-up in production over the last three years throughout its operations across Russia.

The company currently has six operating mines, five exploration projects and one development project.

Edward Dowling, Independent Non-Executive Chairman at Polyus, says the company can expect a further 44 percent increase in production by 2019 but will continue to strive to sustainable growth.

“Our asset portfolio of Tier-1 open pit assets with long mine lives is competitive globally and we are keenly focused on monetizing our unique resource endowment in a disciplined manner,”

“We have successfully tapped the debt public markets in the past year, having issued two Eurobonds of $500million and $800 million and we feel now is the right time to develop the exceptional equity story of Polyus.”

Share

Featured Articles

McKinsey: Design is the answer to supply chain disruption

Based on McKinsey research, firms that embrace the business value of design are less susceptible to disruption in supply chains and are more eco-friendly

Extending maintenance intervals with ultra-hard wearfacings

Hans Bengtsson and Daniel Hoekfors explain how wear-resistant materials are overcoming challenges from wear and abrasion at iron ore mines in the Nordics

Automating your processes? Invest in the right skills

Annee Bayeux, Chief Learning Strategist at Degreed discusses how smart mining and automation are underpinned by the right skills

Accelerating the digital mine with a bite-size approach

Digital Mining

BHP trials renewable fuel at Yandi

Sustainability

Rio Tinto trials renewable diesel at U.S. operations

Sustainability