Polymetal International

Polymetal International is a top-20 global gold producer and top-five global silver producer with assets in Russia and Kazakhstan

Vitaly Nesis
Polymetal International, chief executive

In 2003 at the age of 27, Vitaly Nesis was appointed chief executive of Polymetal and became the youngest executive in the gold mining industry to hold that leading post. He has been a board member of Polymetal since 2004 (and Polymetal International since 2012).

Prior to that, he was chief executive of Vostsibugol from 2002–2003 and before that strategic development director at the Ulyanovsk Automobile Plant in 2000. He was head of the Investment Planning Department at SUAL-Holding over 2001-2002, worked with McKinsey in Moscow over 1999-2000, and was part of Merrill Lynch in New York during 1997-1999.

Vitaly has a BA in Economics from Yale University and an MA in Mining Economics from the St Petersburg Mining Institute.

Polymetal International

Polymetal International is a top-20 global gold producer and top-five global silver producer with assets in Russia and Kazakhstan. The company has a premium listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It is also listed on the Moscow Exchange and included in the MSCI Index.

Polymetal operates nine producing mines. It is the second-largest gold producer (2019: 1.316 million ounces) and the largest silver producer (2019: 21.6Moz) in Russia. The company was the first in the former Soviet Union to start operating a pressure oxidation facility (POX), providing a unique capability in handling refractory ores. The company combines strong growth with a robust dividend yield.

Polymetal is a signatory on all meaningful global initiatives, from environmental stewardship to community engagement to safety management to transparency. Polymetal was the first and is the only Russian member of the Dow Jones Sustainability Index and is in the top 7% of the industry globally within the FTSE4Good Index. The gold miner scores strongly on several other ESG-related ratings systems and has a near-perfect performance for a handful of governance and transparency markers.

Among other initiatives, Polymetal has successfully built a stand-alone solar-energy farm for a remote operation, which achieved its first diesel-free day in 2019. The miner has also secured the industry’s first sustainability-linked loans that offer preferential terms based on established sustainability metrics.