History

Polymetal was established in 1998 in St. Petersburg by the ICT Group, which hoped to create a Russian mining company that would use state-of-the-art technology from exploration to bullion production. The company carries out the full range of deposit development - from exploration to production.

The Company has formed its portfolio of mining operations by both developing greenfield deposits and radically restructuring inoperative mining sites. It now has solid experience managing the full cycle of deposit development, (including all engineering, construction and implementation).

The company has brought four major mining projects into production - Dukat, Khakanja, Vorontsovskoye and Lunnoye.

 

1998-2000

• Acquisition of capital assets in three main Russian regions

 
2001

• Producing of the first ton of gold at Vorontsovskoe plant  (CJSC Northern Urals Gold)
• Commissioning of processing plant at Lunnoe deposit in the   Magadan Region (CJSC Magadan Silver)

2002  

• Commissioning of mining and metallurgical plant at Dukat deposit upon completion of repair and  reconstruction of gold processing plant  (CJSC Magadan Silver)

2003

• Commissioning of mining and metallurgical plant at Khakandja deposit  (OJSC Okhotsk Mining   and  Geological Company)

2004

• Establishment of Polymetal Engineering CJSC

2006

• Creation of strategic alliance with AngloGold Ashanti
• Acquisition of OJSC Albazino Resources (Albazino deposit)

2007

• Polymetal held its initial public offering (IPO) on the London Stock Exchange and on the Russian RTS and MICEX exchanges. Approximately 24.8% of the charter capital was placed in the form of common shares and GDRs
• Start of implementation of Albazino deposit development project
• Start of development Arylakh deposit in the Magadan region ( satellite deposit of Lunnoye)
• Announcement of results of the JORC-compliant resource audit of the Galkinsky, Albazino and Nachalnoye-2

2008

• Acquisition of Kubaka deposit in the Magadan Region and start of active exploration on-site
• Start of development Yurievskoye deposit in the Khabarovsk Territory (satellite deposit of Khakanja)
• Switch to the final stage of implementation of medium-term expansion projects at Voro and Dukat
• Announcement of Feasibility Study results for Albazino reserves mining and estimation
• Change of JSC Polymetal key shareholders
• Acquisition of Degtyarskoye deposit in the Sverdlovsk region

2009

• Acquisition of Goltsovoye deposit in the Magadan region
• Polymetal Wins the Auction for Gold and Silver Exploration and Mining License on Burgali Prospective Area in the Magadan Region
• Polymetal Announces Birkachan and Oroch in the Magadan Region Resource Estimates
• Polymetal Agrees to Acquire Sopka Kvartsevaya and Dalniy Gold-Silver Deposits in the Magadan Region
• Announcement of results of updated feasibility study for mining and reserves estimate of Albazino deposit
• Inclusion of JSC Polymetal’s stock in calculation of MSCI Index (Morgan Stanley Capital International) Russia
• Start of implementation of plan re new issue
• Completion of flotation of supplement ordinary shares by private subscription
• Acquisition of Varvarinskoe gold-copper deposit in Kazakhstan
• Acquisition of Maiskoe gold deposit in Chukotka
  
• MICEX decision to transfer Polymetal’s stock to quotation list «А» of first level

2010

• Launch of Phase 2 at Omsukchan Plant

• Receipt of license for Eastern flank of Albazino ore field

• Inclusion of Polymetal into FTSE Gold Mines