OREANDA-NEWS. Polymetal, as part of its plan for the sale of non-target assets, agreed to sell the North Kaluga polymetallic deposit in the Sverdlovsk Region for $ 13.5 million in the form of cash payment and debt repayment, as well as royalties. The total reward for the transaction will be about $ 27 million, the company said on Monday.

The relevant agreement is with North Kaluga Mining Limited. "We continue to advance on the plan for the sale of non-target assets. The deal with Northern Kaluga provides us with both a cash reward and the opportunity to earn on rising metal prices", said Vitaly Nesis, chief executive officer of the company, quoted by the press service.

It is also indicated that the buyer of the asset will pay the entire debt of the company that owns the license for the deposit to Polymetal at the closing date of the transaction, which amounted to $ 2.8 million at the date of signing the agreement.