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Polymetal International plc (POLY)

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Monday 17 August, 2020

Polymetal International plc

Polymetal: POX-2 autoclave installation

Polymetal International plc (POLY)
Polymetal: POX-2 autoclave installation

17-Aug-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Release time

IMMEDIATE                          LSE, MOEX, AIX: POLY / ADR: AUCOY

Date

17 August 2020

 

 

Polymetal International plc

POX-2 autoclave installation

Polymetal is pleased to announce that the autoclave vessel has been installed at the POX-2 construction site on schedule.

"The installation of the autoclave vessel is a crucial project milestone. We accomplished it on time despite the COVID-related restrictions and complex logistics. It marks our consistent progress towards start-up in Q3 2023", said Vitaly Nesis, Group CEO of Polymetal.

The autoclave was assembled by COEK ENGINEERING in Belgium. It has the length of 50 m, diameter of 6 m, weighs 1,100 tons and is the largest in the gold industry globally. The vessel is made of steel and has a titanium lining. It will operate at the temperature of up to 240 С and pressure of 45 bar, which is the most effective regime for treating double-refractory concentrates.

The shipment of the autoclave has taken 55 days and 25 thousand km. It departed from the port of Antwerp, Belgium, in late May and sailed to the Russian port of De Kastri in the Tatar Straights. There it was reloaded to a river barge and shipped to the city of Amursk. It was then transported to the POX-2 construction site by a multi-axle trailer truck. The total cost of the equipment and logistics amounted to approximately US$ 27 million.

The latest pictures of the installed autoclave are available on our website at the link https://www.polymetalinternational.com/en/investors-and-media/gallery/.

About Polymetal 

Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.

Enquiries

Media

 

Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Evgeny Monakhov

Timofey Kulakov

Kirill Kuznetsov

[email protected]

+44 20 7887 1475 (UK)

 

+7 812 334 3666 (Russia)

 

Joint Corporate Brokers

 

Morgan Stanley & Co. International plc

Andrew Foster

Richard Brown


Panmure Gordon

James Stearns

+44 20 7425 8000

 

 

 

 


+44 20 7886 2500

RBC Europe Limited

Marcus Jackson

Jamil Miah

+44 20 7653 4000

Forward-looking statements

This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company's control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company's present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

 

 



ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
Sequence No.: 82214
EQS News ID: 1119221

 
End of Announcement EQS News Service

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