Polymetal International plc company, which is the largest silver producer in Russia and one of the major gold miners in the world, is purchasing another mine in Armenia for $25 million.

The aforesaid is noted in a company statement.

In 2015, a total of 410 and 41 thousand tons of ore was mined and processed in the Kapan mine of Armenia’s Syunik Province.

In the same year, 21 thousand ounces of gold, one thousand tons of copper, five thousand tons of zinc, and 0.4 million ounces of silver were sold. 

During this period, the net profit of the enterprise amounted to $35 million.

After closing the abovementioned business deal, which will take place in the second quarter of 2016, Polymetal will inform about its short- and long-term plans regarding this mine.