LONDON, UK: PJSC Polyus (LSE: PLZL) notes that MSCI ESG Ratings has downgraded the Company’s ESG Rating from ‘A’ to ‘B’ as part of a series of ESG Ratings downgrades for Russian companies and will continue to assess these companies’ ratings on an ongoing basis.
MSCI ESG Ratings announced that it has applied an ESG Ratings ceiling of B for all Russian companies within MSCI’s ESG Ratings coverage. These rating actions followed the agency’s downgrade of Russia’s ESG Government Rating to ‘B’ on 1 March 2022.
Polyus is the world’s fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold Ore Reserves. The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).