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2025: Polymetal bought Sibay Mining and Processing Plant from Uchalinsky GOK JSC
In mid-April 2025, Polymetal announced the acquisition of a 100% stake in the Sibay Mining and Processing Plant (GOK) in Bashkiria from Uchalinsky GOK JSC. The parties decided not to disclose the financial parameters of the transaction.
According to TASS, the main purpose of the transaction is to resume the work of the mothballed enrichment plant for the development of the Novopetrovsky field, also located in this region. The current capacity of the processing plant is 1.5 million tons of ore per year, and it has all the necessary infrastructure, including the railway.
The acquired asset needs modernization, which, according to the company's plans, should be completed by 2028. After the renovation, the factory will be able not only to process all ore produced at the Novopetrovskoye deposit, but also raw materials from other deposits. As a result, the factory will become the production center (hub) of Polymetal in the region.
The status of the Novopetrovskoye field is of particular importance for the acquisition. The gold-copper-zinc deposit was explored by Polymetal specialists and became the first polymetallic deposit discovered in the region over the past 20 years. It is characterized by a high content of metals, significant growth potential and low environmental impact.
Preparation for the operation of the Novopetrovskoye field will begin in 2025. The company planned to mine the first ore in the second half of 2028. The capacity of the mine will be 1 million tons of ore per year.
Vitaly Savchenko, Deputy General Director for Production of Polymetal, said that the company is confidently entrenched in a new region for itself, and the Ural branch will oversee the project. He also stressed that the company plans to immediately start a dialogue with the local population in order to demonstrate the seriousness of its intentions, save existing jobs as much as possible and create new ones. When modernizing the factory, the closest attention will be paid to environmental issues.[1]
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