PJSC Polyus (LSE, MOEX — PLZL) (Polyus, or the Company) notes that Fitch Ratings (Fitch) has revised its outlook on Polyus to Positive from Stable and reaffirmed the Company’s ’BB’ Rating.
In assigning Polyus a ‘Positive’ Outlook, Fitch noted the Company’s sizeable gross debt reduction during 2020 as a result of solid operating performance and pro-active refinancing amid current gold prices. Fitch also highlighted the Company’s leading cost position and strong business profile, which is expected to be enhanced following Sukhoi Log development.
Polyus is the world’s fourth-largest gold mining company by production volumes and one of two gold miners with the largest attributable gold reserves. The company demonstrates the lowest production costs among major global gold producers.
Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
Investor and Media contact
Victor Drozdov, Director Communications & Investor Relations (CIR) Department
+7 (495) 641 33 77
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.