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Polymetal tightens grip on Veduga with VTB transaction

Russian investment bank VTB Capital has agreed to buy out minority shareholders in Polymetal’s Veduga gold deposit for US$71 million.

Polymetal tightens grip on Veduga with VTB transaction Polymetal tightens grip on Veduga with VTB transaction Polymetal tightens grip on Veduga with VTB transaction Polymetal tightens grip on Veduga with VTB transaction Polymetal tightens grip on Veduga with VTB transaction

Polymetal's Amursk POX hub in southeastern Russia, where gold concentrate is treated

Polymetal will retain control of the high-grade refactory gold asset, with a 59.4% stake, and has a call option to acquire VTB's 40.6% stake following signing at a fixed implied rate of return to VTB.