North Kaluga Mining completed the acquisition of North Kaluga property from Polymetal International for $35.7m.

North Kaluga Mining, a mining company, completed the acquisition of North Kaluga property, a polymetallic deposit, from Polymetal International, a precious metals mining group, for $35.7m. The total transaction value amounts to $35.7m and comprises $10.7m in cash (which has already been paid), royalties with a fair value of $19.1m and repayment of all debt owed by the North Kaluga’s license holder to Polymetal in the amount of $5.9m payable by 31 August 2020. “We continue to advance our non-core asset disposals. The North Kaluga deal brings us some cash and retains exposure to commodity prices,” Vitaly Nesis, Polymetal Group CEO.