https://www.miningweekly.com

S&P's places Polyus ratings on CreditWatch positive

9th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Ratings agency S&P Global Ratings Services has placed its 'BB-' issuer credit ratings on Russian gold miner PJSC Polyus and its controlling shareholder, Polyus Gold, on CreditWatch with positive implications.

S&P’s highlighted the company’s strong profitability, positive free operating cash flow generation, falling leverage and the expectation that Polyus will report supportive operating and financial results for this year and beyond.

Polyus’s solid market position internationally, long reserve life and low production costs supported the ratings decision, S&P’s said.

It also stated that Polyus’s continuous record of low cash operating costs ensured “the company will remain at the bottom of the global gold miners' cost curve.”

Polyus operates a portfolio of gold mines in Russia, including the 29.1-million-ounce Olympia mine, in Eastern Siberia.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

The integration of Alamos' Island Gold mine (pictured) and Argonaut's Magino mine will create synergies of $515-million.
Alamos buys rival Argonaut
27th March 2024 By: Mariaan Webb

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.14 0.17s - 90pq - 2rq
Subscribe Now