Polymetal launches junior company competition with Highland Gold; has invested 2 bln rubles in previous finalists

MOSCOW. July 24 (Interfax) - JSC Polymetal and Highland Gold are launching a joint competition for junior company projects, Polymetal said.

Polymetal said that Russian junior companies with projects involved in prospecting for precious metals, copper, and polymetallic ores are invited to participate. Projects near the existing assets of Polymetal and Highland Gold are of particular interest. The organizers are also ready to consider the projects of Russian junior companies in Kazakhstan.

Polymetal launched its own junior company competitions in 2018, having held five rounds since then. Decisions have been reached regarding further work on 11 projects, and over 2 billion rubles have been invested overall in the competition finalists.

Polymetal is Russia's largest silver producer and one of its leading gold mining companies. The enterprises are located in the Magadan and Sverdlovsk regions, Khabarovsk Territory, the Sakha Republic, and Chukotka. The company currently belongs to Sergei Yanchukov's Mangazeya Group of Companies.

Vladislav Sviblov's Highland Gold Group is among Russia's largest gold miners, with enterprises in the Khabarovsk Territory, Transbaikal, Chukotka, and Kamchatka.