Polyus has received 70% in the project for geological exploration of the Lyuginskaya area gold deposit in Khabarovsk Krai, according to the data of the Unified State Register of Legal Entities. Remaining 30% is still owned by Polymetal. Final configuration of shares in the project will depend on the results of geological exploration, said a representative of...

Polyus closed the sale of all of its shares in Lenzoloto ZDK to a group of investors from Russia. Transaction is the next stage in the implementation of our operational strategy and will allow us to focus on the development of our largest open pit gold projects, including Sukhoi Log, commented Alexey Vostokov, CEO of Polyus.

Polyus' gold production in 2023 amounted to 2.902 million ounces, up 14% year-on-year. Ore processing volume increased by 1% to 48.894 million tons. Recovery rate increased by 1.2pc to 83%. In 2024, company plans to produce 2.7-2.8 million ounces of gold. Reduction in production is mainly due to lower gold content in ore processed at the Olympics.

Polyus' RAS net profit for 2023 amounted to ₽1.107 billion, against a loss of ₽241.36 billion in the previous year.