OREANDA-NEWS. On July 09, 2007 JSC "Polymetal" (LSE, MICEX, RTS: PMTL) announced the appointment of Sergey Antipin as the Managing Director of "Resources Albazino" - Polymetal’s subsidiary in the Khabarovsk Territory (the Albazino deposit), reported the press-centre of JSC "Polymetal".

Mr. Antipin graduated from the Irkutsk Polytechnical University with a degree in processing engineering. In 2000 he received a second degree in finance from the Novosibirsk State Academy of Economics and Law.

Mr. Antipin has 20years of successful experience in the mining industry. Since 2001 he has served as the Managing Director of CJSC “Silver Territory”. Mr. Antipin undoubtedly contributed a lot to the successful completion of the construction and launching project of gold and silver processing plant at the Lunnoye deposit, which is one of the biggest gold and silver deposits in the Magadan Region and Russia.

Prior to the current appointment Mr. Antipin served as the Managing Director of JSC "Okhotsk Mining and Geological Company" - Polymetal’s subsidiary in the Khabarovsk Territory (the Khakanjinskoye and Yurievskoye deposits).

Commenting on the announcement, Vitaly Nesis, Polymetal’s CEO, said: "We believe that Albazino is a key mid-term growth project for us. We are moving forward with flow sheet development and extensive exploration on site. Mr. Antipin has an extensive management experience in constriction and launching of the processing plants. We feel certain that the mine will come on-line in time".