OREANDA-NEWS. Polymetal International plc announced the completion of the acquisition of Orion Minerals LLP (“Orion”), the holding company for the Komarovskoye Gold Deposit (“Komarovskoye”) in the Republic of Kazakhstan, from Kazzinc LTD, a subsidiary of Glencore plc.

The acquisition of Komarovskoye was completed on 1 August 2016, following receipt of all required regulatory approvals.

The total consideration for Komarovskoye is US$ 100 million payable in cash. In addition, a deferred consideration contingent upon future production levels and gold price performance, will be paid to Kazzinc LTD. The deferred consideration, capped at US$ 80 million, shall be calculated on a quarterly basis, and is payable if the price of gold exceeds US$ 1,250 per ounce. More details regarding the transaction can be found in the Company’s press release dated April 4, 2016.