PJSC Polyus () is a Russian

gold mining Gold mining is the extraction of gold by mining. Historically, mining gold from Alluvium, alluvial deposits used manual separation processes, such as gold panning. The expansion of gold mining to ores that are not on the surface has led to mor ...

company. It is the largest gold producer in Russia and one of the top 10 gold mining companies globally by output (2.84 million ounces of gold production in 2019).PJSC POLYUS TRADING UPDATE FOR 4Q and 2019
/ref> It is headquartered in

Moscow Moscow is the Capital city, capital and List of cities and towns in Russia by population, largest city of Russia, standing on the Moskva (river), Moskva River in Central Russia. It has a population estimated at over 13 million residents with ...

and is listed on both the Moscow and London Stock Exchanges. Polyus’ main assets are located in

Eastern Siberia Eastern Siberia is a part of Siberia that incorporates the territory located between the Yenisei River in the west and the Pacific Ocean divides in the east. Its area is equal to 7.2 million sq. km.Galina Samoylova (Г. С. Самойлова)В� ...

and the

Russian Far East The Russian Far East ( rus, Дальний Восток России, p=ˈdalʲnʲɪj vɐˈstok rɐˈsʲiɪ) is a region in North Asia. It is the easternmost part of Russia and the Asia, Asian continent, and is coextensive with the Far Easte ...

- in the regions of

Krasnoyarsk Krai Krasnoyarsk Krai (, ) is a federal subjects of Russia, federal subject (a krai) of Russia located in Siberia. Its administrative center is the types of inhabited localities in Russia, city of Krasnoyarsk, the second-largest city in Siberia after ...

Irkutsk Oblast Irkutsk Oblast (; ) is a federal subjects of Russia, federal subject of Russia (an oblast), located in southeastern Siberia in the basins of the Angara River, Angara, Lena River, Lena, and Nizhnyaya Tunguska Rivers. The administrative center is ...

Magadan Oblast Magadan Oblast is a federal subjects of Russia, federal subject (an oblast) of Russia. It is geographically located in the Russian Far East, Far East region of the country, and is administratively part of the Far Eastern Federal District. Magadan ...

and the Republic of Sakha. The company is controlled by Said Kerimov, son of Russian billionaire and politician, Suleyman Kerimov.

History

Polyus was founded as Polyus Gold () in March 2006, as a result of a

spin-off Spin-off, Spin Off, Spin-Off, or Spinoff may refer to: Entertainment and media *Spinoff (media), a media work derived from an existing work *''The Spinoff'', a New Zealand current affairs magazine * ''Spin Off'' (Canadian game show), a 2013 Canad ...

from the gold assets of Norilsk Nickel. In May 2006, shares of Polyus Gold were admitted to listing and trading on the Russian stock exchanges RTS and MICEX (both of these later merged to form the

Moscow Exchange The Moscow Exchange (MOEX; , ) is the largest exchange in Russia, operating trading markets in equities, bonds, derivatives, the foreign exchange market, money markets, and precious metals. The Moscow Exchange also operates Russia's central secur ...

). In December 2006, ADRs of Polyus Gold were listed and admitted to trading on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

. Due to the sanctions imposed against it, the company plans to delist its depository lists from the LSE on July 25, 2023. Sanctions against Polyus were simultaneously imposed on May 19, 2023 by the United States, Great Britain and Australia. In 2009, the businessman Suleyman Kerimov bought a 37% stake in Polyus Gold from

Vladimir Potanin Vladimir Olegovich Potanin (; born 3 January 1961) is a Russian oligarch. He acquired his wealth notably through the controversial loans-for-shares program in Russia in the early to mid-1990s. As of May 7, 2025, Forbes ranked 81st richest in ...

. In 2015, the family of Suleyman Kerimov acquired 59% of Polyus Gold International Ltd (the parent holding company of Polyus Gold) and became the controlling shareholder of Polyus Gold. On 3 December 2015, Polyus Gold International Limited announced the delisting of its shares from the London Stock Exchange. In 2016, Polyus Gold changed its name to ''Polyus''. In June 2017, Polyus’s shares were re-admitted to trading on the London Stock Exchange. In April 2019, Polyus sold a 3.84% stake worth US$390 million in a secondary public offering on the Moscow Stock Exchange.

Operations

Polyus holds the world’s third largest gold reserves with 64.4 million ounces of proven and probable gold reserves, and the second largest mineral resource base globally with 193 ounces of gold.

Operating mines

Development and exploration

* Sukhoi Log: one of the world’s largest gold greenfield projects. Estimated gold reserves are 962 mt of ore, grading 2.1 g/t gold for 63 moz of contained gold. * Other deposits in

Amur Oblast Amur Oblast () is a federal subject of Russia (an oblast), located on the banks of the Amur and Zeya rivers in the Russian Far East. The oblast borders Heilongjiang province of the People's Republic of China (PRC) to the south. The administrati ...

and

Sukhoi Log

Sukhoi Log is one of the largest undeveloped gold deposits in the world. Its development could increase Russia's gold production by more than 20%, strengthening the country’s position among the global leaders in this sector. In 2022, Polyus carried out a reengineering of the project. Sukhoi Log is a major investment project in Russia's gold mining sector, with total investments estimated at $6 billion. In 2024 started pilot-scale ore processing from the Sukhoi Log deposit at the Verninskaya processing plant, utilizing similar technologies and the advantage of geographical proximity. By October 2024, the first tonne of gold had already been produced as part of this initiative.

Ownership

Main owner as of 2021: Said Kerimov (76.34% of shares). 21.85% of shares are in free circulation, 1.03% belong to the company's managemen

In 2022 Said Kerimov sold 29.99% in Polyus to Acropol Group (belongs to Akhmet Palankoev) and gave 46.35% to the Fund for Support of Islamic Foundations in Russia
https://polyus.com/en/media/press-releases/changes-in-shareholder-structure/
In July 2023, the Board of Directors of Polyus announced a share buyback program. It is planned to buy out about 30% of the stake. The Board of Directors allocated 579 billion rubles for these purposes. At the time of the announcement of the offer, the buyback price (14.2 thousand rubles per share) was one third higher than the market price.

Carbon footprint

Polyus Gold reported Total carbon footprint, CO2e emissions (Direct + Indirect) for 31 December 2020 at 2,020 Kt (-380 /-15.8% y-o-y).Alt URL
/ref> The decline accelerated compared to the CAGR of -8.6% since 4Q'16.

References

External links

{{Authority control Gold mining companies of Russia Companies based in Krasnoyarsk Krai Companies listed on the Moscow Exchange Companies in the MOEX Russian companies established in 2006 Companies based in Krasnoyarsk Companies based in Moscow Russian brands Non-renewable resource companies established in 2006