==Ownership==
==Ownership==
As of 31 December 2021, Solidcore Resources plc had a free float of 75.2%.<ref name=share>{{Cite web|url=https://www.polymetalinternational.com:443/en/investors-and-media/shareholder-centre/shareholder-structure/?type=2022|title=Shareholder structure|website=www.polymetalinternational.com}}</ref> Most of the remainder (23.9%) was owned by [[ICT_Group_(Russia)|ICT group]], whose major shareholder was [[Alexander Nesis]]. In January 2024, ICT’s share was purchased by the Omani state-owned company Mercury Investments International through its subsidiary Maaden International Investment.<ref>{{Cite web|url=https://www.polymetalinternational.com/ru/investors-and-media/news/press-releases/29-01-2024/|title=Уведомление о смене основного акционера|language=ru|date=2024-01-29|website=[[Polymetal International]]}}</ref> The family of the late Czech businessman [[Petr Kellner]] owned 3.3% via [[PPF Group]].<ref name=share/>
As of 31 December 2021, Solidcore Resources plc had a free float of 75.2%.<ref name=share>{{Cite web|url=https://www.polymetalinternational.com:443/en/investors-and-media/shareholder-centre/shareholder-structure/?type=2022|title=Shareholder structure|website=www.polymetalinternational.com}}</ref> Most of the remainder (23.9%) was owned by [[ICT_Group_(Russia)|ICT group]], whose major shareholder was [[Alexander Nesis]]. In January 2024, ICT’s share was purchased by the Omani state-owned company Mercury Investments International through its subsidiary Maaden International Investment.<ref>{{Cite web|url=https://www.polymetalinternational.com/ru/investors-and-media/news/press-releases/29-01-2024/|title=Уведомление о смене основного акционера|language=ru|date=2024-01-29|website=[[Polymetal International]]}}</ref> The family of the late Czech businessman [[Petr Kellner]] owned 3.3% via [[PPF Group]].<ref name=share/>
==Carbon footprint==
Solidcore reported Total [[carbon footprint|CO2e emissions]] (Direct + Indirect) for 31 December 2020 at 1,103 Kt (-95 /-7.9% y-o-y).<ref name =”Polymetal Total CO2e emissions for 2020Q4″>{{Cite web |title=Polymetal’s Sustainability Report for 2020Q4 |archive-url=https://web.archive.org/web/20210606185552/https://www.polymetalinternational.com/upload/iblock/b02/Polymetal_Sustainability_Report_2020.pdf |url=https://www.polymetalinternational.com/upload/iblock/b02/Polymetal_Sustainability_Report_2020.pdf|archive-date=June 6, 2021 }} [https://analytics.exerica.com/App/Name/Polymetal/Total%20CO2e%20Emissions%20-%20Location-Based%20Scope%201%20%2b%20Scope%202/2020Q4 Alt URL]</ref>
{| class=”wikitable”
|+ Solidcore’s Total [[carbon footprint|CO2e emissions]] (Direct + Indirect) (in kilotonnes)
|-
! Dec 2019 !! Dec 2020
|-
| 1,198<ref>{{Cite web |title=Polymetal’s Sustainability Report for 2020Q4 |archive-url=https://web.archive.org/web/20210606185552/https://www.polymetalinternational.com/upload/iblock/b02/Polymetal_Sustainability_Report_2020.pdf |url=https://www.polymetalinternational.com/upload/iblock/b02/Polymetal_Sustainability_Report_2020.pdf|archive-date=June 6, 2021 }} [https://analytics.exerica.com/App/Name/Polymetal/Total%20CO2e%20Emissions%20-%20Location-Based%20Scope%201%20%2b%20Scope%202/2019Q4 Alt URL]</ref> || 1,103<ref name=”Polymetal Total CO2e emissions for 2020Q4″/>
|}
==References==
==References==
Precious metals mining company
59°51′18″N 30°16′55″E / 59.855°N 30.282°E
Solidcore Resources plc, formerly Polymetal International plc,
Solidcore Resources plc (“Solidcore”, “Solidcore Resources”, known as Polymetal International plc until June 2024) is a precious and base metals mining company registered in AIFC, Kazakhstan, and listed on Astana International Exchange. Solidcore operates two mines and one major development project in Kazakhstan. It is the second largest gold producer in the country with 0.5 million troy ounces gold equivalent annual production. The Company’s strategy aims to double its production to 1 million troy ounces in five years by developing its own exploration projects, acquiring greenfield projects and leveraging its strong competencies in pressure oxidation (POX) processing technology that allows efficient treatment of refractory and double-refractory ores.
History
With over 25 years of industry experience, Solidcore Resources plc has established itself as one of the leading gold mining companies.
The Company started its operations in Kazakhstan in 2009 with the acquisition of Varvara gold and copper mine located in northern Kazakhstan, near Kostanai city.[2]
In 2014, Solidcore acquired its largest mine, Kyzyl, in eastern Kazakhstan. The processing plant (concentrator) was built by the Company and launched in 2018.[3]
In 2011, the Company went public with the premium listing on London Stock Exchange and for over 10 years has been firmly positioned as a leading London-listed gold producer, a FTSE100 constituent from (вписать даты когда мы были в FTSE100).[4]
In April 2019, Solidcore became the first foreign company to list on the Astana International Exchange (“AIX”).[5]
In August 2023, the Company re-domiciled from Jersey to AIFC in Kazakhstan with AIX becoming the Company’s primary stock exchange. Subsequently, the Company delisted from LSE.[6][7]
On 11 March 2024, following shareholder approval, the Company completed the divestment of its Russian business to JSC Mangazeya Plus with the transaction value at approximately US$ 3.69 billion including third-party debt and intragroup arrangements.[8]
Rebranding
Further to the divestment of the OFAC-sanctioned Russian business, which retained its name of JSC Polymetal, Polymetal International plc changed its name to Solidcore Resources plc.
From June 17, 2024, the Company trades under the new ticker symbol ‘CORE’ on the Astana International Exchange.[9]
The name “Solidcore” is formed by the combination of two words: “solid” (meaning “reliable”, “durable”) and “core” (meaning “basis”, “foundation”, “essence”, as well as “core sample” – rock sample extracted during exploration drilling). The new name also reflects the Company’s core values: trust, safety, honesty, technical expertise and persistency in achieving the goals.
Operations
In 2024, Solidcore produced 400 thousand ounces of gold.[10]
Polymetal owns mines and carries out exploration activities in two regions of Kazakhstan.
Hubs:
- Varvara is Solidcore’s first operation in Kazakhstan that was acquired by the Company in 2009 as a standalone gold and copper mine with a modern 4.2 Mtpa processing plant. Today, Varvara comprises Varvara leaching and flotation facilities, Varvara open-pit mine, Komarovskoye open-pit gold deposit that was acquired in 2016 and Baksy JV. Varvara is located in Kostanai Region, Kazakhstan, 130 km south-west of the regional centre of Kostanai. At both Varvara and Komar, ore is mined via conventional open-pit truck-shovel and drill-and-blast methods. The current life-of-mine plan provides for open-pit mining until 2042, with further extensions anticipated as a result of pit enlargement and additional exploration activities, particularly at Komar.[11]
Standalone mines:
- Kyzyl is the flagship Company’s asset and the second largest gold mine in Kazakhstan. It was acquired in 2014 for a total of US$ 618 million. The production facility combines the Bakyrchik gold deposit and 2.4 Mtpa flotation plant launched in 2018. Kyzyl is located in the Abai Region, Kazakhstan, 75 km west from Ust-Kamenogorsk. Bakyrchik gold deposit is planned to be developed via open-pit mining for more than 15 years and by underground mining starting from 2030 that can potentially last until 2054. Mined ore is processed via conventional flotation that delivers two types of concentrate — high and low carbon content.[12]
Developement project:
Ertis POX is Kazakhstan’s first large-scale and high-tech full-cycle pressure oxidation plant for refractory ore processing, developed based on Solidcore’s assets. The plant unlocks the country’s significant resource potential by enabling the development of currently untapped refractory ore deposits for which there is no existing processing technology in the country.
Pressure oxidation is one of the most sustainable and safe technologies in the hydrometallurgical industry. It is known to have several ecological benefits:
- No off-site water discharge;
- Water circulation with maximum water reuse;
- Minimal CO2 emissions with no SOx or AsOx emissions.
Solidcore’s decision to build POX will also have a positive social impact:
- Job opportunities for the local community: Creation of approximately 500 permanent jobs. Over 1,000 jobs will be created during the construction phase.
- Increased tax payments to the local government.
- Increase of social investment: Annual financial input into social care. Implementation of the most valuable social projects for the local community.
- Support of local contractors and suppliers.
Ownership
As of 31 December 2021, Solidcore Resources plc had a free float of 75.2%.[13] Most of the remainder (23.9%) was owned by ICT group, whose major shareholder was Alexander Nesis. In January 2024, ICT’s share was purchased by the Omani state-owned company Mercury Investments International through its subsidiary Maaden International Investment.[14] The family of the late Czech businessman Petr Kellner owned 3.3% via PPF Group.[13]
