Headquarters
    Cyprus
    Stock Exchange Listings
    LSE: POLY - MOEX: POLY - AIX: POLY
    Workforce
    Employees: 12,010 (31/12/2018)
    Contract workers: 6,023 (31/12/2018)
    Total: 18,033 (31/12/2018)
    Geographic Footprint
    Producing countries: 2
    Known tax jurisdictions: 4
    Revenues (in BUSD)
    Total Revenue: 1.706 (31/12/2018)
    Net Income: 0.352 (31/12/2018)
    State Ownership
    No State ownership
    2017 Fatalities
    Total worker fatalities: 2
    • Employees: 1
    • Contract workers: 1
    Others: Not reported
    2018 Fatalities
    Total worker fatalities: 1
    • Employees: 1
    • Contract workers: 0
    Others: Not reported
    Home countries, where the company is headquartered
    Producing countries, where the company has mining operations
    Mine sites selected for mine-site-level assessment

    Summary of Results


    While absolute results are low overall, Polymetal shows one of the three stronger results in Working Conditions. In addition to its formal commitment to ensure safe and healthy working conditions, Polymetal shows a relatively stronger result on the issue of ensuring its operations actively respect the rights of workers to organise, collective bargaining and freedom of association. In addition, the company shows one of the stronger results on the disclosure of information on fatalities and serious injuries and safety incidents.

    In the other thematic areas, Polymetal’s results are above the average result across 38 companies in Community Wellbeing, Working Conditions and Environmental Responsibility but below average on Economic Development and Lifecycle Management.

    In the mine-site assessment, Polymetal ranks 3rd among the 38 companies on its mine-site-level results, though with an average score of only 24%.

    Polymetal is associated with a leading practice on its commitment to a range of measures to mitigate the effects of retrenchment on employees.

    Polymetal’s overall results are limited by a lack of evidence of action on a number of key issues, including supporting local entrepreneurship, and local business development, and procurement from local suppliers. Furthermore, the company shows no evidence of tracking the effectiveness of its whistleblowing mechanisms or its performance in reducing adverse impacts on water quality.

    In the mine-site assessment, Polymetal demonstrates an unusually high level of consistency in the results achieved by its four assessed mine sites (with scores all within the range 22-28%). However, none of the four mine sites show any relevant evidence on three issues: local employment, air quality and water quality.

    Overall results

    Economic Development

    0.50 / 6.002020

    Business Conduct

    1.82 / 6.002020

    Lifecycle Management

    0.57 / 6.002020

    Community Wellbeing

    0.93 / 6.002020

    Working Conditions

    2.76 / 6.002020

    Environmental Responsibility

    1.75 / 6.002020

    Average Mine-Site Score

    23.8%2020
    2020
    0.50
    score / 6

    Economic Development

    2020
    1.82
    score / 6

    Business Conduct

    2020
    0.57
    score / 6

    Lifecycle Management

    2020
    0.93
    score / 6

    Community Wellbeing

    2020
    2.76
    score / 6

    Working Conditions

    2020
    1.75
    score / 6

    Environmental Responsibility

    2020
    23.8
    %

    Average Mine-Site Score

    Results per measurement area

    Commitment

    (9 indicators)

    Action

    (42 indicators)

    Effectiveness

    (20 indicators)

    Results per indicator

    Economic Development

    Mine-site Results

    Mine sites selected for individual assessment (but not included in the overall company score)
    DukatKyzylVarvaraVoro
    Local Employment
    (score /3)
    0.00.00.00.0
    Local Procurement
    (score /3)
    1.01.01.01.0
    Post-Closure Plans
    (score /3)
    0.51.00.50.5
    Community Grievances
    (score /3)
    1.52.01.51.5
    Worker Grievances
    (score /3)
    1.01.01.01.0
    Air Quality
    (score /3)
    0.00.00.00.0
    Water Quality
    (score /3)
    0.00.00.00.0
    Water Quantity
    (score /3)
    0.50.50.50.5
    Tailings Management
    (score /3)
    2.02.02.02.0
    Emergency Preparedness
    (score /3)
    0.01.00.00.5
    Mine-site Score
    (%)
    21.728.321.723.3

    Operational mine sites

    Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
    Amursk-AlbazinoEkaterina-2, Amursk POX HubRussian Federation100Gold, SilverOpen-pit, Underground
    DukatLunnoye, Omsukchan, Goltsovoye, ArylakhRussian Federation100Gold, SilverUnderground
    Kapan-Armenia0GoldUnderground
    KyzylBakyrchik, BolshevikKazakhstan100Gold, SilverOpen-pit, Underground
    Mayskoye-Russian Federation100Gold, SilverUnderground
    OkhotskKhakanja, Avlayakan, OzernoyeRussian Federation0Gold, SilverOpen-pit, Underground
    OmolonBirkachan, Tsokol, Oroch, Sopka, Olcha, KubakaRussian Federation100Gold, SilverOpen-pit, Underground
    Svetloye-Russian Federation100Gold, SilverOpen-pit
    VarvaraVarvara Hub, Komar, Maminskoye (Russia), TarutinKazakhstan100Copper, Gold, SilverOpen-pit
    Voro-Russian Federation100Gold, SilverOpen-pit

    Shareholders (known)

    As of: 31/10/2019Shares (%)
    Nesis (Alexander Natanovich) (through ICT Holding Ltd and Powerboom Investments Limited)25.93%
    Kellner (Petr) (through Fodina B.V.)11.63%
    Otkritie Financial Corporation Bank6.93%
    Mamut (Alexander)5.61%
    Mamut (Nikolay, son of Alexander)3.85%
    Mosionzhik (Alexander)3.20%
    Norges Bank Investment Management (NBIM)1.28%
    Investec Asset Management Ltd.1.24%
    Mirae Asset Global Investments (USA) LLC0.94%
    Van Eck Associates Corporation0.82%
    BlackRock Advisors (UK) Limited0.75%
    Legal & General Investment Management Ltd.0.74%
    Nesis (Vitaly)0.69%
    BlackRock Institutional Trust Company, N.A.0.68%
    Bank Vontobel AG (Private Banking)0.58%

    Beneficial Owners (known)

    As of: 31/12/2018Shares (%)
    Alexander Nesis13.72
    Petr Kellner11.49
    Alexander Mamut5.61
    Alexander Mosionzhik3.2
    Vitaly Nesis0.7
    Marina Grönberg0.01
    Leonard Homeniuk0.01
    Ollie Oliveira<0.01%
    Christine Coignard<0.01%
    Bobby Godsell<0.01%

    Subsidiaries (known)

    As of: 31/12/2018Country
    Albazino Resources LtdRussian Federation
    Amur Hydrometallurgical Plant LLCRussian Federation
    Bakyrchik Mining Venture LLCKazakhstan
    Gold of Northern Urals JSCRussian Federation
    GRK Amikan LLCRussian Federation
    Industria LLCRussian Federation
    Inter Gold Capital LLCKazakhstan
    JSC «Urals – Platinum group metals»Russian Federation
    Komarovskoye Mining LLCKazakhstan
    Kostanay Exploration Company LLCKazakhstan
    Krasnoturinsk-Polymetal LLCRussian Federation
    Kutyn Mining and Geological Company LLCRussian Federation
    Magadan Silver JSCRussian Federation
    Maminskaya Mining Company LLCRussian Federation
    Mayskoye Gold Mining Company LLCRussian Federation

    Tax Jurisdictions (known)

    Cyprus

    Kazakhstan

    Russian Federation

    UK

    Investor / State Disputes
    (since 2014)

    No case