Further Growth Opportunities
We operate in stable low-risk jurisdictions
Russia/Armenia/Kazakhstan
> No material regulatory matters, no instances of government
overreach or licensing issues in hard rock mining in more than 10
years
High-risk jurisdictions
Tanzania (export ban)
Indonesia (resource nationalism)
Greece, Philippines, Columbia (bans on mining
and mine closures/ suspensions
Stable tax regime, relatively low corporate and sector tax levels
> No recent changes to royalty rates and mineral extraction tax
> Corporate tax rates stable at 20% since 2009 in Russia and
Kazakhstan, and since 2006 in Armenia
Burkina Faso
South Africa
Zambia
Congo
> No significant labor or community issues
Africa
Unemployment rates at a low 5.3% in Russia, 4.9% in
Kazakhstan and 17.4% in Armenia
Labour strikes extremely rare; labour unions only traditionally
influential in coal mining
▲ POLYMETAL
INTERNATIONAL PLC
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