Polyus (LSE, MOEX: PLZL) ("the Company" including subsidiaries — "Polyus") is pleased to announce that, in partnership with the Russian Direct Investment Fund ("RDIF") and other major Russian companies, it has participated in establishing the Fund of Industrial and Infrastructure Technologies funds ("the Fund"). Specifically, Polyus has taken part in creating the Energy and Ecology subfund.
The total assets under the Fund’s management are expected to amount to approximately RUB 20 bln. RDIF has invested RUB 10 bln on behalf of the Russian government and is acting as manager of the Fund.
The aim of the Energy and Ecology subfund is to invest in companies that foster cutting-edge and promising technologies in the fields of energy, renewable energy resources, and ecology.
Pavel Grachev, Chief Executive Officer of PJSC Polyus, commented:
"We anticipate that this investment will incentivize the development of technologies in the areas of renewable energy and green energy storage systems, as well as carbon capture and storage. This is in line with our strategic goal to pursue new initiatives and solutions that will support the further reduction of our carbon footprint."
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 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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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.