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| Los Filos mine. Image credit: Equinox Gold. |
(Wallace Refiners) – Polyus (LSE, MOEX – PLZL) informes that Fitch Ratings has revised its outlook on Polyus to Positive from Stable and reaffirmed the company’s ’BB’ Rating.
In assigning Polyus a ‘Positive’ Outlook, Fitch noted the company’s sizeable gross debt reduction during 2020 as a result of solid operating performance and pro-active refinancing amid current gold prices.
Fitch also highlighted the company’s leading cost position and strong business profile, which is expected to be enhanced following Sukhoi Log development.
Polyus is the world’s fourth-largest gold mining company by production volumes and one of two gold miners with the largest attributable gold reserves. The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
