- Polyus Gold
Infobox_Company
company_name = Polyus
company_
company_type =Joint stock
company_slogan = N/A
foundation = 1980
location = flagicon|RUS
key_people =Hazret Sovmen , "Founder"
Yevgeny Ivanov, "CEO"
num_employees =
revenue =
industry =Mining
Metallurgy
products =Gold
homepage = http://www.polyusgold.comPolyus Gold (MICEX|PLZL RTS|PLZL) ( _ru. Полюс Золото, "Polyus Zoloto") is a
Russia nmining andmetallurgy company primarily concerned with the production ofgold . Polyus is the largest gold producer in Russia.In 1990 Polyus was restructured as a closed joint stock company, then went public. It is part of the
Interros holding. The company'sstock is traded on the RTS andMICEX exchanges in Russia and onNew York's OTC stock exchange , as well as on theLondon Stock Exchange as ADRs. The company was worth about nine billion dollars by the end of 2006.History and operations
Polyus was founded in 1980 by
Hazret Sovmen and began working the Olympiad gold field. In 1994 the company obtained the mining license to operate the Olympiada mine. Two years latersmelting operations began.Lenzoloto, located in the
Bodaybo region, was formed in 1921 by the nationalization of over 400 exgtant gold producers inSiberia . In 2003, Lenzoloto joined Polyus group.One year after the discovery of gold in Natalka, the Matrosov Mine was founded. In 2004, after joining the Polyus Group, the mine's resources were reappraised and a new
open-pit mine was planned upon. The company estimates that Matrosov will become the largest gold field in Russia by 2010. Polyus operates the following gold mining facilities:
*Krasnoyarsk Krai – the large Olympiada deposit; Blagodantoye, Titimukhta, Tyrada, Oleny, Razdolinskaya, Zyryanovskaya, and Panimba fields.
*Irkutsk Oblast – Zapadnoye, Verninskoye, Pervenets, and Chyortovo Koryto and Mukodek goldfields as well as some 94placer deposits.
*Magadan Oblast – giant Natalka deposit and smaller Degdekan and Vostochnoye fields.
*Sakha Republic (Yakutia) - Kuranakh ore body and Kyutchus field; 50% interest in the giant Nezhdaninskoye field.
*Amur Oblast – Bamskoye gold field.All those assets have been consolidated by
MMC Norilsk Nickel and spun off in 2005 as a separate company still controlled byInterros .Gold production in 2005 was 33.5 tons, or about one million ounces. The company holds 25.1 million ounces of gold in proven and probable reserves. The company estimates that it has 76.8 million ounces of gold resources.
The company's website states that "producing a ton of gold creates 1000 jobs."
ee also
*
Gold as an investment External links
* [http://www.polyusgold.com en icon ru icon Official website of Polyus Gold]
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