Russian Polymetal in talks to acquire 2 mines in Kazakhstan.

By bne IntelliNews April 20, 2012
Russian precious metal producer Polymetal is in talks with the Kazakh government over acquisition of 2 mines in the country, the companys CEO Vitaly Nesis has revealed. He noted that the process of reaching an agreement and obtaining government approval is time-consuming. Polymetal is also holding negotiation with Tau-Ken Samruk over possible joint exploration operations at gold deposits. Presently, Polymetal operates at the Varvarinskoye deposit in Kazakhstan. The company expects a slight decrease in gold production at the deposit this year. In 2011, Polymetal produced 3 tons of gold and 7,000 tons of copper at the Varvarinskoye.

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