PJSC Polyus (LSE, MOEX: PLZL) («Polyus», the «Company») announces that it has extended an agreement for the supply of electricity generated by PJSC RusHydro, a major Russian hydroelectricity supplier.
Under the terms of the agreement, approximately 1.5 billion kWh of energy will be supplied to the Company’s assets in 2022. As a result, 100% of the energy demand of Polyus’ assets located in Krasnoyarsk Territory and Irkutsk Region will be directly met by hydropower.
In early 2021, as previously announced, Polyus and RusHydro signed a one-year agreement to supply renewable electricity from the Sayano-Shushenskaya HPP to Polyus’ Krasnoyarsk Business Unit (Olimpiada and Blagodatnoye). As a result, the level of electricity demand of the Company’s operating assets met by renewable sources reached about 90%.
Polyus is the world’s fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold Ore 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).
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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.