20th Jan 2016 07:57
LONDON (Alliance News) - Metals miner Polymetal International PLC on Wednesday said it has now entered the first phase of its joint venture with Polyus Gold at the Nezhdaninskoye gold project in Yakutia in Russia.
The pair entered into a joint venture in December the develop the deposit. Polymetal will acquire a 50% stake in the JSC South-Verkhoyansk Mining Co business, which holds the rights to the deposit.
Under the first stage of the joint venture, Polymetal has acquired a 15.3% stake for a USD18.0 million investment, which will be used to fund the activities of the joint venture.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
POLY.L