PJSC Polyus (LSE, MOEX — PLZL) ("Polyus", or the "Company") highlights the announcement made by Polyus Finance Plc ("Issuer") today on the sanctions targeting Polyus and its business units.
The U.S. Department of the Treasury’s Office of Foreign Assets Control added Polyus along with several Polyus Group companies to the Specially Designated Nationals and Blocked Persons List on 19 May 2023.
The UK and Australia also announced sanctions against Polyus on 19 May 2023.
Polyus Finance Plc is an indirect wholly owned subsidiary of Polyus and the issuer of U.S.$500,000,000 4.70% Guaranteed Notes due 2024 (the "2024 Notes") and U.S.$700,000,000 3.25% Guaranteed Notes due 2028 (the "2028 Notes").
The Issuer has been considering and consulting with outside legal counsel regarding the effect of the above sanctions. The Issuer is also evaluating steps that will be required to fulfil its obligations under the 2024 Notes and 2028 Notes, including potential application for a license of the Office of Financial Sanctions Implementation (OFSI).
Polyus is a Top-5 global gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. The Company has 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 of the date of this announcement. Polyus and/or any Polyus Company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.