PJSC Polyus (LSE, MOEX — PLZL) ("Polyus", or the "Company") informs that on 19 May 2023, the Department of the Treasury’s Office of Foreign Assets Control ("OFAC") published a document imposing sanctions targeting the Company and its business units.
According to General License issued by OFAC, the equity and debt holders of Polyus have to wind down their operations involving the Company until 17 August 2023.
The UK and Australia also announced sanctions against Polyus on 19 May 2023.
The Company considers all sanctions imposed on Polyus and its subsidiaries as unjustified. The Company will thoroughly examine the relevant authorities’ decisions and the prospect of opposing the sanctions by all legal means.
While the Company is now evaluating a potential impact of announced restrictive measures, Polyus will focus on maintaining its operations as normal, delivering on operational goals and proceeding with organic development of its asset portfolio. The Company also confirms an intention to meet all its social and environmental obligations.
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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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 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.