latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/polymetal-sells-sopka-gold-assets-in-russia-57769650 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Polymetal sells Sopka gold assets in Russia

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019


Polymetal sells Sopka gold assets in Russia

Polymetal International PLC sold its Sopka assets in Russia to a private local mining company for 800 million Russian rubles, or about US$10 million, in cash and a 1% net smelter returns royalty.

The mining assets sold include low-grade ore stockpiles from the Sopka, Dalneye and Oroch deposits as well as mining and exploration licenses for the Sopka, Dalneye and Irbychan deposits, all of which have been ring-fenced into Irbychan Gold LLC, a separate legal entity established to warehouse the noncore assets of the Omolon hub.

The company said March 26 that mining at the properties ceased in 2018.

Polymetal booked a US$28 million write-down on the Irbychan Gold assets in its 2019 financials.

As of March 25, US$1 was equivalent to 78.91 Russian rubles.