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Polymetal Plans to Sell Russian Assets to Avert Sanctions Risk

  • Gold miner says it will focus instead on Kazakhstan assets
  • Its Russian business accounts for about 70% of total sales
Vitaly Nesis, chief executive officer of Polymetal International Plc.

Vitaly Nesis, chief executive officer of Polymetal International Plc.

Photographer: Hollie Adams/Bloomberg
By
Bloomberg News

Polymetal International Plc plans to sell its Russian assets in an effort to shield its remaining business from sanctions.

The Cyprus-registered gold miner is evaluating a potential disposal and has appointed advisers, it said in a statement. If a deal is reached, Polymetal will focus primarily on assets it owns in Kazakhstan, the company said.