- Business
- PJSC Polyus engages in the exploration, extraction, mining, processing, refining, and sale of gold, operating as Russia's largest gold producer and one of the top five globally by production and reserves, with approximately 105 million ounces of attributable proven and probable gold ore reserves. The company manages five principal operating mines and advanced development projects, including alluvial operations; its key assets encompass Olimpiada, Blagodatnoye, Natalka, Talgiy, and Verninskoye, supported by efficient processing facilities with capacities up to 24.2 million tonnes per annum at select sites. Principal operations span Eastern Siberia and the Russian Far East, specifically Krasnoyarsk Krai, Irkutsk Oblast, Magadan Oblast, and the Republic of Sakha (Yakutia), serving refined gold markets primarily within Russia. Founded in 2006 and headquartered at 3 Building 1 Krasina Street in Moscow, Russia, PJSC Polyus maintains a low-cost profile among peers, evidenced by total cash costs around $509-$1,234 per ounce across assets. Recent developments include the largest shareholder Said Kerimov divesting a 29.99% stake to Akropol Group; a subsidiary launching a share purchase program for up to 29.99% of ordinary shares valued at RUB 579.4 billion in early 2025; the sale of the early-stage Marokskoye exploration asset to YUGK Group in April 2025; and rollout of the Maxmart SRM+ procurement system beginning March 2025, with full transition by year-end.