REG-Polymetal International plc Polymetal: POX-2 autoclave installation

Polymetal International PKAnnouncement

17/08/2020 07:00

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   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.

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   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
    1 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
                                  Polymetal   2 ir@polymetalinternational.com

   FTI Consulting                 Evgeny     +44 20 7887 1475 (UK)
                          +44 20  Monakhov
   Leonid Fink            3727                
                          1000    Timofey
   Viktor Pomichal                Kulakov    +7 812 334 3666 (Russia)

                                  Kirill      
                                  Kuznetsov
       Joint Corporate Brokers         
                          +44 20
                          7425
   Morgan Stanley & Co.   8000
   International plc
                                  RBC Europe
   Andrew Foster                  Limited
                           
   Richard Brown                  Marcus     +44 20 7653 4000
                                  Jackson
   Panmure Gordon
                                  Jamil Miah
   James Stearns
                          +44 20
                          7886
                          2500

   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.

    

    

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


    
   End of Announcement EQS News Service

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    3 fncls.ssp?fn=show_t_gif&application_id=1119221&application_name=news&site_id=reuters8

References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=70918ab4cca7f6e844dca068aad8cd48&application_id=1119221&site_id=reuters8&application_name=news
   2. mailto:ir@polymetalinternational.com


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