Polyus earns $237 mln from selling alluvial assets

MOSCOW. Aug 27 (Interfax) - Polyus has earned $237 million, excluding disposed cash, from divesting subsidiaries, namely from selling its alluvial business, the gold mining company said in its H1 2024 financial statement.

Polyus in April completed the sale of its entire interest in JSC Gold Mining Company Lenzoloto, which consolidates the group's alluvial assets. The company has retained the Lenzoloto holding company that remains listed on the Moscow Exchange . Polyus has disclosed neither the amount of the deal nor the buyer, though sources have said that it could be the Okto group.

GMC Lenzoloto develops a number alluvial gold deposits in the Irkutsk Region. Its refined gold output reached 103,000 ounces in 2023.

Polyus is Russia's biggest gold miner. It develops hard rock and alluvial gold deposits in the Krasnoyarsk Territory, the Irkutsk and Magadan regions, and the Sakha Republic, or Yakutia.