OREANDA-NEWS. The Board of Directors of OJSC “Polyus Gold” plans to recommend the shareholders to make a decision not to pay dividends for 2006. According to AK&M, the general director of the company Evgenie Ivanov told journalists about the issue.

“Polyus Gold" is the leading manufacturer of gold entering the number of the largest world manufacturers on volumes of raw-material base and manufacture.

The company was founded in March 2006 by allocation of gold mining assets of OJSC “MMC “Norilsk Nickel” (JSC “Polyus” and branches) in the independent company.

The volume of manufacture of “Polyus Gold” in 2005 has made 1,1 million ounces of gold. The portfolio of assets of the company includes ore and placer deposits in Krasnoyarsk region, Irkutsk, Magadan and Amur regions, Republic of Sakha (Yakutia). In 2005 the company has increased the proved and possible stocks of gold in 1,9 times - up to 25,1 million ounces from 13,3 million ounces.

The proceeds of “Polyus Gold” in 2005 under the International Financial Reporting Standards (IFRS) have increased by 7 % - up to $473,18 million. Profit for this period has made $115,397 million, profit before taxation - $166,665 million.