Polymetal buys Glencore’s Kazakh Komarovskoye Gold Deposit for $100m

Jersey- based precious metals mining company Polymetal has entered into a binding agreement with Glencore subsidiary Kazzine to buy its Komarovskoye Gold Deposit in the Republic of Kazakhstan. The acquisition involves the acquisition of Orion Minerals LLP  for $100m, and  Kazzinc will additionally receive a deferred consideration linked to future production from the Komarovskoye and the  movements in the  gold price.
 Gold mined at  Komarovskoye will be processed at  the Varvara open-pit mine and processing plant in north-west Kazakhstan that Polymetal acquired in 2009.

Source: reuters