JSC «Polymetal» (LSE, MICEX, RTS: PMTL) («Polymetal») announces today that it has disposed of a 100% interest in CJSC «Northeastern Coal Company» holding five exploration and mining licences relating to the Bulur coal deposit and adjacent exploration properties covering an area of approximately 612 square kilometers in the Magadan Region (the Far East of Russia) to several private Russian companies for a total consideration of US$12 million payable in cash.
«Our core competence is in precious metals mining, and disposal of non-core assets is an important element of our strategy," said Vitaly Nesis, CEO of Polymetal.
