OREANDA-NEWS. January 19, 2012. JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) has received a notification that the holding of Deutsche Bank Trust Company Americas in the Company has decreased from 19,980,518 ordinary shares, representing approximately 5% of the total share capital of the Company, to 19,292,680 ordinary shares, representing approximately 4.83% of the total share capital of the Company, reported the press-centre of Polymetal.

Company
Polymetal is a leading precious metals mining company. The Company is the top five global primary silver producers, the largest silver and fifth gold producer in Russia.

In 2007 Polymetal held an initial public offering. 24.8% of the Company was placed in the form of GDRs on the London Stock Exchange and in ordinary shares on the RTS and MICEX exchanges.

Polymetal owns gold and silver mines and carries out exploration activities in four regions of Russia (the Magadan Region, the Khabarovsk Territory, the Sverdlovsk Region and the Chukotka Autonomous Okrug) and in Kazakhstan.

Its portfolio of projects contains 45 licenses covering a territory of over 8,800 sq. km.

Polymetal's most promising deposit is Albazino located in the Khabarovsk Territory, which contains JORC mineral resources estimated at approximately 3 Moz of gold. In April 2011 the on-site flotation concentrator at the Albazino mine was successfully started up with first dry gold concentrate bagged.

In 2010 the Company produced a record 444Koz of gold in 2010 and 17.3Moz of silver.