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2020-08-17

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

ir@polymetalinternational.com

+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

 

 

 

 

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