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  • Gold (USD) 1,237.50 +4.30
  • MOEX (GBX) 6,185.92 +1.39
  • OTC (USD) 29.59 0.00
1,763 koz of gold
produced in 2015 (2014: 1,696 koz)
424 $/oz
Total cash cost
610 $/oz
All-in sustaining cash cost
Ore processed, kt
22,743 2014
24,740 2015
Adj. EBITDA $ mln
1,011 2014
1,268 2015
6 6 operating assets: 5 hard-rock mines and alluvial operations
2,189 $ mln
Total Revenue in 2015
0.08
Lost time injury frequency rate (LTIFR) per 200k hours worked in 2015 (2014: 0.09)
Factsheet
Management

Polyus benefits from its experienced management team with a strong track record and extensive expertise in gold mining and project execution in an opportunity-rich mining region.

Pavel Grachev

Pavel Grachev

Chief Executive Officer

Pavel Grachev was appointed head of Polyus in 2013. Prior to that, from 2010 to 2013, Mr. Grachev served as Chief Executive Office of the leading potash producer Uralkali and then of the Far East and Baikal Region Development Fund. From 2006 to 2011, he worked as managing director of the investment company Nafta Moskva. From 1997 to 2006 he was the head of the Moscow office of the law firm Pavia e Ansaldo (Italy).

In addition to participation in the Board of Polyus, Mr. Grachev is currently engaged as independent director on the Board of FGC UES (Federal Grid Company of Unified Energy System) and RusHydro. He has also previously served on the Boards of Uralkali, PIK Group (as Chairman) and Polymetal.

Mr. Grachev graduated from the Saint Petersburg State University and the University of Trieste (Italy) with degrees in law.

Vladimir Polin

Vladimir Polin

Senior Vice President, Operations

Mr. Vladimir Polin joined Polyus in August 2014. He has extensive managerial experience in the metals and mining sector. Prior to joining Polyus, Mr.Polin was Chief Operating Officer at En+, a leading Russian industrial group with assets in the metals, mining and energy sectors. Before that, for three years, he headed the East aluminium division at Rusal, the world’s leading aluminium producer. Prior to joining Rusal, Mr. Polin spent almost ten years at Mechel, a major coal and steel producer in Russia, in a variety of senior posts including Chief Executive Officer and Senior Vice President at Mechel Management.

Mr. Vladimir Polin graduated from Chelyabinsk Polytechnic Institute with a degree in metallurgy.

Mikhail Stiskin

Mikhail Stiskin

Senior Vice President, Finance and Strategy

Mr. Mikhail Stiskin joined Polyus in 2013 following a highly successful career in investment banking. Mikhail was Managing director at Sberbank CIB (until 2011 known as Troika Dialog where Mikhail was also a partner), a corporate and investment banking arm of Sberbank, Russia’s largest financial institution, where Mikhail was in charge of research coverage of the metals and mining/fertilizer sectors. For many years in a row Mikhail’s team rated as best in the sector within both the CIS and EMEA regions, according to annual institutional investor surveys. Mikhail has also been actively involved in a number of landmark transactions in the sector.

Mr. Stiskin graduated with honours from the Moscow State Institute of International Relations with a degree in economics and holds a master’s degree in economics from the University of Michigan (Ann Arbor).

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Andrey Krylov

Andrey Krylov

Vice President, Operations and Technical Development

Andrey Krylov joined Polyus in October 2014. Prior to this, from 1997 he worked at OJSC Karelisky Okatysh, the leading iron ore producer in Russia, which is part of Severstal Group. He was employed as a foreman before making the transition to Production Director.

Mr. Krylov graduated from Saint-Petersburg Mining University.

Sergey Lobov

Sergey Lobov

Vice President, Mineral Resources

Mr. Sergey Lobov joined Polyus in August 2013 as Director for Geology and Development Projects. In March 2016, he was appointed Vice President for Mineral Resources.

Prior to joining Polyus, Mr. Lobov worked for the Canadian gold mining company Barrick Gold, at their office in Russia, where he held a number of management positions. From 2000 to 2004, Mr. Lobov served as Deputy Head of the Russian office of Bateman Engineering Company. Previously, from 1993 to 2000, Mr. Lobov was a Regional Director at Metso Minerals, a specialist in mining equipment manufacturing and ore processing and technologies.

In 1981, Mr Lobov graduated Patrice Lumumba University (later renamed to Peoples’ Friendship University of Russia) with a specialization in mining engineer- geologist. In 1985, he obtained a PhD degree in Geology and Exploration of Mineral Deposits from the same University.

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Feliks Itskov

Feliks Itskov

Vice President, Commerce and Logistics

Mr. Feliks Itskov has a wealth of experience in managing supply chains, transportation and warehousing logistics. Prior to joining Polyus, he spent two years at OJSC ANK Bashneft, where he was responsible for procurement and supply functions. Whilst there, he centralized the processes of materials and consumables procurement and supply for all the production, processing and sales companies and implemented the company’s strategy for improving logistics efficiency and performance.

Prior to joining Bashneft, Mr. Itskov was Vice President, Supply Chain Management and Infrastructure at TNK-BP. In 2012, he was recognized as the most effective young top manager in the company. At TNK-BP, he was in charge of materials and services procurement and supply to the processing and trading companies within the Group. He was also responsible for the transportation, power efficiency and outsourcing functions of those companies.

Mr. Itskov graduated with honours from the STANKIN Moscow State Technological University with a degree in economics and company management and successfully defended his Ph.D. thesis on mathematical methods in economics.

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Stefan Gueorguiev

Stefan Gueorguiev

Vice President, Project Management and Capital Construction

Mr. Gueorguiev has over 20 years of experience in the Engineering, Procurement, and Construction Management (EPCM) industry, including project management, design, construction, and ramp-up of projects for mining, energy and oil & gas companies in North and South America, Europe, Africa, and the Middle East.

Prior to joining Polyus, Stefan served as a Vice President Projects at the Canadian subsidiary of Lycopodium Minerals, one of the leading providers of engineering and project management services for the mining industry. During his three years at Lycopodium, in addition to his role as Vice President, , he managed several large-scale projects designing and constructing gold-processing plants in Colombia, Brazil, and Guinea.

Prior to this, for over 10 years, Mr. Gueorguiev worked for Amec in Canada, where he held a number of positions from a lead engineer to a project manager. At Amec, he successfully executed a number of projects in a variety of fields, including mining, energy, oil & gas across the globe.

He holds a Master’s Degree in Civil and Structural Engineering from the University of Architecture, Civil Engineering and Geodesy (UACEG) in Sofia (Bulgaria), as well as a Master’s Degree in Project Management from Penn State University (USA).

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Lev Bondarenko

Lev Bondarenko

Vice President, Business Transformation

Mr. Bondarenko has spent over 15 years implementing projects related to changing business processes in large industrial holding companies.

Prior to joining the Polyus team in 2016, he had spent 6 years at SIBUR, a gas processing and petrochemical company, where he was Director for Comprehensive Integration of Information Systems. While at Sibur, Mr. Bondarenko implemented a wide range of projects, including a large-scale transformation programme based on MES and SAP ERP systems.

Previously, Mr. Bondarenko was employed by TNK-BP, where he started as a business transformation manager and was subsequently promoted to Director for Optimization and Control of Business Processes. Before that, he served as a project manager to implement information systems in various industrial companies, including projects for Lebedinsky GOK.

Mr. Bondarenko graduated from the Lomonosov Moscow State University with a Bachelor’s Degree in Economics and Master’s Degree in IT and Business Processes Management. He also holds a PhD degree in Economics.

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Oleg Solin

Oleg Solin

Vice President, Security and Asset Protection

Mr. Solin joined Polyus in December 2013 as Director for Economic Security. In June 2016, he was appointed Vice President for Security and Asset Protection.

Prior to joining Polyus, from 2007 Mr. Solin held a number of economic security management positions at large Russian companies including Mechel and Rosneft.

Following his graduation from Moscow’s Higher Border Command College in 1981, he worked for a number of governmental bodies where he held operational and command staff positions. During this period, Mr. Oleg Solin worked for Russia’s border forces, regional agencies of the Russian Federal Security Service, the tax police as well as at units of the Ministry of Internal Affairs.

Vyacheslav Dzyubenko

Vyacheslav Dzyubenko

Vice President, Internal Audit

Mr. Vyacheslav Dzyubenko joined Polyus in 2013. Prior to joining the Company, he was Managing Director of the Moscow representative office of Nafta Moskva Cyprus Ltd. Vyacheslav began his career in 1995 as risk assessment specialist at International Moscow Bank. From 2001 to 2004, he worked at the debt financing department of Sovlink, an independent investment boutique. From 2005 to 2013, his career was associated with real estate, including such positions as head of real estate financing at International Moscow Bank (2005-2008), deputy finance director at PIK Group (2008-2010), first deputy CEO on economics and finance at SU-155 (2010-2011) and head of private equity and real estate investments at Uralsib Financial Corporation, a leading financial company in Russia (2012-2013).

Mr. Vyacheslav Dzyubenko graduated from the Moscow State Institute of International Relations with a degree in economics.

Elena Zhavoronkova

Elena Zhavoronkova

Vice President, Legal Affairs

Ms. Elena Zhavoronkova joined Polyus in October 2014. She brings with her a wealth of experience in managing legal affairs at Russia’s largest companies in metals and mining and industrials sectors. Prior to joining the Company, from 2010, she was Vice President Legal Affairs at Evraz, one of the largest integrated steel and mining businesses in Russia. Since 2008, Elena headed the legal department at United Industrial Corporation, a diversified holding company in Russia with assets in coal mining, banking, retail and other sectors. Prior to that, from 2000 to 2008, she worked at TMK, one of the largest pipe manufacturers in the world, initially as legal advisor and later as head of its legal department.

Ms. Elena Zhavoronkova graduated from Moscow State Law Academy.

Sergey Zhuravlev

Sergey Zhuravlev

Vice President, Government Relations

Mr. Zhuravlev joined Polyus in 2014. Prior to that, from 2009 to 2014, he held the position of Director Government Relations at Sibur, Russia’s largest petrochemicals producer. From 2004 to 2008, he worked at the Federal Agency for State Property Management of the Russian Federation.

Mr. Zhuravlev graduated with honours from the Cherepovets Military Engineering Institute of Radio Electronics and the Academy of National Economy in Moscow with a degree in management. He also holds an MBA in finance from California State University, Hayward.

Alexander Shitov

Alexander Shitov

Vice President, Control and Compliance

Mr. Alexander Shitov joined Polyus in October 2015 as Director for Internal Audit. In May 2016, he was appointed Vice President for Control and Compliance.

Mr. Shitov has extensive managerial experience and expertise in internal control, risk management, internal audit and compliance. He has successfully implemented a number of projects for the largest national and international companies in the area of developing risk management and internal control system, including control procedures’ optimization, development of strategy, methodology and trainings, automated management of internal control system, as well as internal audit projects.

From 2012 to 2015, Mr. Shitov served as Director of the Internal Control Department in TNK-BP and Rosneft. Prior to this, he spent over 10 years at Ernst & Young in a variety of senior posts including Director for Risk and Internal Control Services and Head of Advisory Services for oil & gas companies in CIS.

Mr. Shitov graduated from the Higher School of Economics, National Research University, with a degree in economics and company management. He is currently undertaking an MBA programme at MGIMO International Institute of Energy Policy and Diplomacy. He is a certified internal auditor (CIA) and a member of the International Institute of Internal Auditors (IIA).

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Business Units

Anatoly Barilyuk

Anatoly Barilyuk

Managing Director of JSC Polyus

Anatoly Barilyuk was appointed as head of Polyus’ Krasnoyarsk Business Unit in 2014. Previously, he worked at Kazzinc, one of the largest precious metals producers in Kazakhstan. At Kazzinc, Mr. Barilyuk headed Altyntau Kokshetau (located in Kokchetav) which develops the Vasilkovskoye gold deposit, Kazakhstan’s largest field. Prior to this, from 2008 he served as Chief Engineer and then General Director at Altynau Vostok (located in Ust-Kamenogorsk). From 1984 to 2007, Mr. Barilyuk worked at Kazakhmys where he held a number of management positions.

Mr. Barilyuk graduated from Karaganda State Technical University and Kazakhstan National Technical University (in Alma-Ata). He holds a PhD degree in Technical Science.

Igor Tsukurov

Igor Tsukurov

Managing Director of JSC Pervenets

Igor Tsukurov has been with Polyus mines since 2003, when he was appointed Technical Director of OJSC Yuzhno-Verkhoyanskaya Mining Company. From 2006 to 2012, Mr. Tsukurov he headed the company and in November 2012, he became General Director of JSC Pervenets.

Prior to joining Polyus, Mr. Tsukurov spent over 15 years at Norilsk Nickel, first as a shaft man and finally as Deputy Head to Chief Engineer.

He graduated from Irkutsk Polytechnic Institute and Academy of National Economy under the Government of the Russian Federation.

Maxim Semyanskikh

Maxim Semyanskikh

General Director of JSC ZDK Lenzoloto

Mr. Semyanskikh has considerable experience in managing placer deposits and introducing cutting-edge control systems and business processes at mining companies. He joined Polyus in September 2014 as Director for the Alluvials Development. Prior to this, for almost 10 years, Mr. Semyanskikh directly managed CentroKredit Bank’s placer production assets in the Magadan region. Whilst there, he held a number of management positions within the bank’s coal mining project in the Republic of Sakha as well as being in charge of some of the bank’s other projects.

Mr. Semyanskikh graduated from the State University of Land Use Planning (Moscow, Russia). He was awarded an MBA from the Institute of Business Studies, at the Russian Presidential Academy of National Economy and Public Administration.

Alexey Noskov

Alexey Noskov

Managing Director of JSC Aldanzoloto GRK

Alexey Noskov joined Polyus in 2011 as Chief Engineer at OJSC Yuzhno-Verkhoyanskaya Mining Company. From 2012 to 2014 he was Deputy Head for Capital Projects at OJSC Pervenets and later, from April 2014, served as Chief Operating Director at the same company. In April 2015, he was appointed General Director of JSC Aldanzoloto GRK.

Prior to joining Polyus, from 1994 to 2011, Mr. Noskov held a number of management positions within several business entities in the Kemerovo region. His career began in 1982 as an operator of winning machines at the Raspadskaya Coal Mine, which was part of the Yuzhny Kuzbass production group, where he was later promoted to site manager.

He graduated from Irkutsk Polytechnic Institute.

Grigory Koldunov

Grigory Koldunov

Managing Director of JSC RiM

Mr. Koldunov has extensive experience implementing large-scale mining and energy projects.

Prior to joining Polyus in December 2015, for 11 years Mr. Koldunov worked at DTEK, the largest privately-held vertically integrated company in Ukraine. There, he served as the Head of the Contracting Department, overseeing the Company’s large-scale strategic projects. He was also engaged in managing the company’s mining division, which included 30 coal mines and 12 coal-preparation plants.

Mr. Koldunov graduated from Donetsk Engineering and Economic Institute and Kharkov Institute for Economics. He holds a graduate degree in Mining, Finance and Economy and was awarded an MBA from International Business Institute in Kiev.