1998 CE
Polymetal Founded
Polymetal is founded in Russia by a group of investors to develop gold and silver mining assets. #mining #gold
Chronological Storyline (40 Milestones)
2000 CE
First Assets Acquired
Polymetal acquires its first gold and silver deposits in the Magadan region, laying the foundation for future operations. #mining #acquisition
2003 CE
First Gold Production
Polymetal achieves its first gold production at the Tsokol project in Magadan, marking the company's entry into precious metals output. #gold #production
2005 CE
IPO on MOEX
Polymetal lists shares on the Moscow Exchange (MOEX), raising capital to fund expansion and development. #IPO #MOEX
2007 CE
Acquisition of Albazino
Polymetal acquires the Albazino gold deposit in the Khabarovsk region, a major asset that becomes a key production hub. #acquisition #gold
2008 CE
Financial Crisis Impact
The global financial crisis affects Polymetal's operations and share price, but the company maintains production through cost-cutting measures. #crisis #mining
2009 CE
Mayskoye Project Launch
Polymetal begins development of the Mayskoye gold deposit in Chukotka, one of the largest undeveloped gold deposits in Russia. #development #gold
2010 CE
Production Milestone of 500,000 oz
Polymetal achieves annual gold equivalent production of 500,000 ounces, driven by growth at Albazino and other mines. #production #milestone
Apr 13, 2011 CE
IPO on London Stock Exchange
Polymetal lists on the London Stock Exchange (LSE) as Polymetal International plc, raising $1.2 billion to fund expansion. #IPO #LSE
2012 CE
Acquisition of Omolon Gold
Polymetal acquires the Omolon gold mine from Kinross Gold, adding high-grade gold reserves and production capacity. #acquisition #gold
2013 CE
Launch of Nezhdaninskoye
Polymetal begins operations at the Nezhdaninskoye gold deposit in Yakutia, increasing total production and reserves. #development #gold
2014 CE
Sanctions and Currency Crisis
Western sanctions on Russia and the ruble crisis impact Polymetal's costs and revenue, but the company benefits from higher gold prices. #sanctions #crisis
2015 CE
Production Reaches 1 Million oz
Polymetal surpasses annual gold equivalent production of 1 million ounces, becoming one of the top gold miners in Russia. #production #milestone
2016 CE
Acquisition of Kyzlasov
Polymetal acquires the Kyzlasov gold deposit in Kazakhstan, expanding its geographic footprint beyond Russia. #acquisition #Kazakhstan
2017 CE
Dividend Policy Initiated
Polymetal announces a progressive dividend policy, returning cash to shareholders as free cash flow grows. #dividends #shareholders
2018 CE
Commissioning of Kapan Mine
Polymetal commissions the Kapan copper-gold mine in Armenia, diversifying its portfolio into copper as well. #copper #mine
2019 CE
Start of Kyzyl Gold Project
Polymetal begins commercial production at the Kyzyl gold project in Kazakhstan, a major new operation with low costs. #production #Kazakhstan
2020 CE
COVID-19 Operational Impact
The COVID-19 pandemic causes temporary mine closures and logistical disruptions, but Polymetal maintains production with strict health protocols. #COVID19 #mining
2021 CE
Record Production of 1.7 Million oz
Polymetal achieves record annual gold equivalent production of 1.7 million ounces, driven by the Kyzyl and Mayskoye mines. #production #record
Feb 24, 2022 CE
Russia-Ukraine War and Sanctions
Following the Russian invasion of Ukraine, Polymetal faces sanctions, trade restrictions, and currency volatility, impacting operations and share price. #sanctions #war
Dec 1, 2022 CE
Reincorporation to Kazakhstan
Polymetal announces plans to re-domesticate to Kazakhstan, moving its headquarters and jurisdiction to escape sanctions impact. #Kazakhstan #corporate
Feb 1, 2023 CE
Listing on Astana International Exchange
Polymetal lists its shares on the Astana International Exchange (AIX) to provide liquidity for shareholders amid sanctions. #listing #AIX
Jun 1, 2023 CE
Sale of Russian Assets Initiated
Due to sanctions and regulatory pressure, Polymetal begins the process of selling its Russian mining assets to focus on Kazakhstan. #divestiture #Russia
Mar 1, 2024 CE
Completion of Russian Divestment
Polymetal completes the sale of its Russian operations to a local consortium, becoming a Kazakhstan-focused gold producer. #divestment #Kazakhstan
Jun 1, 2024 CE
New Strategic Plan Unveiled
Polymetal announces a five-year strategic plan targeting 1 million oz of gold production in Kazakhstan through organic growth and acquisitions. #strategy #growth
Feb 1, 2025 CE
Acquisition of Bakyrchik Gold
Polymetal acquires the Bakyrchik gold deposit in Kazakhstan, adding significant reserves and near-term production potential. #acquisition #Kazakhstan
Aug 1, 2025 CE
Launch of Varvarinsky Hub
Polymetal commissions the Varvarinsky processing hub in Kazakhstan, centralizing ore processing from multiple mines to reduce costs. #processing #hub
2026 CE
Production Reaches 1 Million oz in Kazakhstan
Polymetal's annual gold equivalent production in Kazakhstan surpasses 1 million ounces, solidifying its position as a top regional producer. #production #Kazakhstan
2027 CE
Green Mining Initiatives
Polymetal invests in renewable energy and electric mining equipment to reduce carbon footprint, aligning with global ESG standards. #ESG #green
2028 CE
Digital Transformation Program
Polymetal deploys AI and automation across its operations to improve efficiency and safety, becoming a tech-enabled miner. #technology #automation
2029 CE
Discovery of New Deposit in Karaganda
Polymetal announces a significant gold-copper discovery in the Karaganda region, expanding its resource base. #discovery #exploration
2030 CE
Polymetal Rebrands to Polimetal Kazakhstan
The company rebrands to reflect its complete shift to Kazakhstan, changing its name to Polimetal Kazakhstan Ltd. #rebranding #Kazakhstan
2031 CE
First Kazakh Dividend Since Relocation
Polymetal resumes dividend payments from Kazakhstan operations, rewarding shareholders after a hiatus during the transition. #dividends #shareholders
2032 CE
MOU with Kazakh Government for Infrastructure
Polymetal signs a memorandum of understanding with the Kazakh government to build shared infrastructure for mining regions. #infrastructure #partnership
2033 CE
Entered into Copper-Gold JV with Rio Tinto
Polymetal forms a joint venture with Rio Tinto to explore copper-gold targets in Kazakhstan, leveraging expertise. #jointventure #copper
2034 CE
First Commercial Production from Deep Level Mine
Polymetal achieves first production from its deep-level gold mine in Kyzyl, using advanced underground mining methods. #mining #underground
2035 CE
Polymetal Joins FTSE 250 Index
Polymetal's shares are included in the FTSE 250 index, reflecting its growth and market capitalization. #index #FTSE
2036 CE
Zero Harm Safety Milestone
Polymetal achieves a full year without fatal accidents across all operations, a key safety milestone. #safety #milestone
2037 CE
Sale of Non-Core Assets
Polymetal divests its remaining minor assets in Armenia to focus solely on Kazakhstan operations. #divestiture #Armenia
2038 CE
Polymetal Receives Sustainability Award
Polymetal is recognized as a 'Top Sustainable Miner' by the World Mining Congress for its environmental and social initiatives. #sustainability #award