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  • Gold (USD) 1,246.10 +4.50
  • MOEX (RUB) 4,369.00 -5.00
  • 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
Press Releases

Appointment of Chairman & Members of the Board Committees

Press Release

PJSC Polyus

PJSC Polyus (MOEX — PLZL) («Polyus», the «Company»), the largest gold producer in Russia, is pleased to announce the appointment of its independent Director Edward Dowling as the Company’s Chairman of the Board of Directors (the «Board») and to provide an update on the composition of the Board Committees.

Mr Edward Dowling, who served on the Board of Directors of Polyus Gold International Limited between 2013 and 2015 and headed its Health, Safety, Environment and Community Committee, will serve as the Chairman of the Board with effect from 29 April 2016. Mr. Dowling’s appointment as an independent Chairman reflects the Company’s commitment to adhere to high level of corporate governance standards.

In addition, Polyus announces that the Board has established Audit, Nomination & Remuneration, Strategy and Operations Committees, which are, also in line with high corporate governance standards, headed by independent directors.

The following members have been appointed to the Board Committees:

  • Audit Committee (fully comprised of independent Directors in line with MOEX listing rules and recommendations):
    • Kent Potter (Chairman)
    • Edward Dowling
    • William Champion
  • Nomination & Remuneration Committee:
    • Edward Dowling (Chairman)
    • William Champion
    • Kent Potter
    • Anastasia Galochkina
  • Strategy Committee:
    • Edward Dowling (Chairman)
    • Kent Potter
    • Pavel Grachev
    • Mikhail Stiskin
    • Said Kerimov
  • Operations Committee:
    • William Champion (Chairman)
    • Edward Dowling
    • Vladimir Polin
    • Pavel Grachev

Mr. Edward Dowling, Chairman of Polyus, commented:

It is a great honour to serve as the Chairman of the Board of Russia’s leading gold producer. The appointment of an independent Chairman is another step in the implementation of the high corporate governance standards previously adhered to by Polyus Gold International Limited.

Polyus has already made excellent progress bolstering its status as a public company. We have recently upgraded the Company’s listing to Level 1 on MOEX and have appointed a new Board, which includes independent members. The Board is committed to applying a robust corporate governance framework, drawing on our collective experience stewarding successful international businesses.

As previously announced, the new version of the Regulations on the Board of Directors was approved at the annual general meeting of shareholders held on 5 April 2016. The new Board consists of nine members, including three representatives of the controlling shareholder (Ms. Anastasia Galochkina, Mr. Said Kerimov, and Ms. Gulnara Kerimova), three representatives of Polyus group management (Mr. Pavel Grachev, CEO of Polyus, Mr. Vladimir Polin, CEO of JSC Polyus (the Polyus group’s operating company), Mr. Mikhail Stiskin, Senior Vice President for Finance and Strategy), and three independent Directors (Mr. Edward Dowling, Mr. Kent Potter, and Mr. William Champion).

Mr. Edward Dowling

Mr. Edward Dowling is the Chairman of the Board of Directors of Alacer Gold, where he served as President and CEO between 1998 and 2012. He is also a member of the Board of Directors of Teck Resources Limited.

His mining experience spans 30 years and includes holding the positions of Executive Director for Mining and Exploration at De Beers, President and CEO of Meridian Gold Inc., and Executive Vice President for Operations at Cliffs Natural Resources Inc.

Mr. Dowling is a former Board member of De Beers Société Anonyme, Victoria Gold Corp, Polyus Gold International Limited and Zinco de Brasil Inc.

Mr. Dowling graduated from the Pennsylvania State University in 1982 with degrees in mining engineering and mining processing. He obtained his Master’s degree and PhD in mineral processing from the same university in 1987 and 1998, respectively.

Polyus

Polyus (www.polyusgold.com) is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced. The Company also holds the fourth largest mineral resources base in the world.

Polyus Group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).

In 2015, the Company confirmed its status of one of the lowest-cost gold producers globally.

Enquiries:

Investor Contact

Sergey Krivokhizhin, Director Investor Relations
+7 (495) 641 33 77 ir@polyusgold.com

Media contact

Artem Gorbachev, Press Secretary

+7 (495) 641 33 77 gorbachevav@polyusgold.com

Forward looking statement

This announcement may contain «forward-looking statements» concerning Polyus and/or Polyus group. Generally, the words «will», «may», «should», «could», «would», «can», «continue», «opportunity», «believes», «expects», «intends», «anticipates», «estimates» or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.