OREANDA-NEWS. PJSC RusHydro announce signing of the cooperation agreement at the Eastern Economic Forum in Vladivostok. The document was signed by Nikolay Shulginov, Chairman of the Management Board - General Director of RusHydro and Pavel Grachev, CEO of Polyus.

The agreement aims to ensure reliable electricity supply of Polyus Group facilities, both operating mines and development projects, as well as guarantee economic efficiency of RusHуdro’s generating facilities under construction.

Areas of cooperation include joint review of options to raise budget financing, possible power purchase agreements, as well as analysis of existing regulation and potential development of regulatory amendments.

The two parties intend to synchronize RusHydro’s investment plans for construction of generating facilities with Polyus plans aimed at expansion and modernization of operating gold mines, as well as development projects. The parties are also planning to evaluate sources of financing for projects of mutual interest and assess economic feasibility of project financing.

PJSC Polyus is the largest gold producer in Russia and a top 10 gold producer globally in terms of production. The Company also holds the world’s fourth largest gold reserves. Company principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia). In 2015, Polyus confirmed its status of a gold mining company with one of the lowest cost profiles in the world.

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.