Polymetal International and Russian Copper Company have agreed to swap development assets on opposite sides of the Russia-Kazakhstan border. The transaction is viewed as synergistic for both companies due to the improved logistical fit of the properties with existing processing facilities.
Involved in the swap are Polymetal’s Tarutin property in Russia and Russian Copper’s East Tarutin property in Kazakhstan. Polymetal will receive 85% of LLP Tarutinskoye, the license holder for the East Tarutin copper-gold deposit. In return, Russian Copper will receive 100% of Vostochny Basis LLC, the license holder for the Tarutin copper-gold deposit.
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