Polymetal to Pay $27 Million of Additional Taxes on Court Ruling

Polymetal International Plc, a Russian gold and silver producer, will pay 883 million rubles ($27 million) in additional taxes for 2007 after Russia’s Supreme Arbitration Court ruled in favor of tax authorities, the company said in a regulatory filing today.

Separately, the London listed company said it now controls 100 percent of OAO Polymetal, its Russian unit.