Maaden completed the acquisition of a 23.9% stake in Polymetal from ICT.

Maaden, an investment firm, completed the acquisition of a 23.9% stake in Polymetal, an Anglo-Russian precious mining company, from ICT, an industrial-technology solutions provider. Financial terms were not disclosed. “We welcome our new significant shareholders led by Mercury Investments International LLC and we look forward to our engagement with our new Omani investors. We are pleased that the shareholder has confirmed its full support of Polymetal’s strategy, which includes de-risking the Company’s business by disposing its Russian operation and further developing its asset base in Kazakhstan and the wider region,” Vitaly Nesis, Polymetal International Group CEO.