POLYMETAL (LN:POLY), THE LSE-listed gold miner with operations in Russia, Kazakhstan and Armenia, is pressing ahead with large-scale project development as part of its growth strategy, while aiming to provide investors with a steady dividend flow. When Polymetal took over the Kyzyl project in Kazakhstan, it was considered, while world-class, to be technically challenging to operate. The previous owners envisaged a large capital outlay of over US$1 billion to start extracting and process the refractory ore, which is high in sulphur and organic carbon.
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