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Polymetal prepares to shift listing from London to Kazakhstan

Polymetal is preparing to relocate its domicile from Jersey to Kazakhstan, so that the Anglo-Russian gold miner can carve out its Russian business in the wake of sanctions and war. Until recently one of the most profitable gold miners in the world and a FTSE 100 company until last year, Polymetal has become emblematic of the difficulties in navigating mounting sanctions against Russia, despite not being targeted itself. Russia has banned asset sales by gold miners domiciled in “unfriendly” places such as Polymetal’s current choice of the Channel Islands.