Polus Enters New Growth Phase
Polus smashes gold production and spending records in 2025
Russia's largest gold producer, Polus, has released its 2025 performance results, reporting record figures across multiple areas—from overburden removal volumes to capital expenditures and social investments.
In 2025, overburden removal reached an all-time high of 189.465 million m³, marking a 31% year-on-year increase. This growth is tied to the active transition to new phases of deposit development. By the end of 2025, large-capacity equipment (with a payload of at least 180 tons) accounted for 77.9% of the Group's total freight turnover, up from 67.5% the previous year.
At Nizhny Kuranakh in Aldan District, the Nadezhny heap leaching expansion project saw its first ore laid in May 2025, followed by the commissioning of the crushing and agglomeration plant (CAP). Under the heap leaching project at the Southern Cluster, all core process equipment has been contracted, with some already delivered to the site.
Polus continues to advance its technological transformation program. Capital expenditures in 2025 surged by 73% year-on-year, hitting a record $2.18 billion, in line with earlier forecasts. Overburden-related capital spending reached $725 million, a 97% increase over 2024.
"Polus has entered a new growth cycle, which will involve large-scale investments in our operations. In 2025 alone, these reached an unprecedented$2.2 billion—the highest in the Company's history. The bulk of these funds went toward development projects. A key priority for us remains technological transformation: in 2025, for the first time, a significant portion of our investment program was allocated to cutting-edge automation and AI-driven communication technologies."
— Alexey Vostokov, CEO of Polus
For further details on the results and plans of Polus Aldan, Managing Director Yevgeny Malygin provided additional insights.
Investment activity remains at a high level, and this is only natural: we are in a phase of rapid growth. Funds are being allocated both to expand production capacity and to improve the efficiency of existing operations. In 2025, we invested heavily in exploration work. As a result, the State Reserves Commission approved a record increase in resources at the Southern cluster of deposits in the Kuranakh ore field. The company will have enough reserves to sustain operations for decades to come, meaning jobs will be preserved and new ones created, infrastructure will develop, and significant tax revenues will flow into the budget. It is particularly worth noting that 2025 set a new record for gold production—10,861 kilograms for the year. And I am confident that, despite external challenges, all targets for this year will be met.
Gold production has reached record levels. Was there also a record in recovery rates?
By the end of 2025, the recovery rate stood at 89.74%, exceeding the planned target of 89%. This is the highest figure in the company's history. For comparison, ten years ago, this indicator was around 82–83%. The improvement was driven by upgrades to technological processes, optimization of processing parameters, and the stable operation of our processing plants. We take pride in the fact that, even as we increase processing volumes, we continue to enhance performance metrics.
IT
Have IT costs risen, and what projects in this area are currently underway or planned for launch?
Yes, spending on information technology has increased significantly. We are actively implementing digital solutions that deliver tangible economic benefits. In 2025, we continued expanding automated management systems for our mining and transport operations, developed communication networks at open-pit mines, and introduced machine vision elements at our processing plant. For 2026–2027, we plan further digitization of production processes. The growth in production capacity and the development of social infrastructure are driving an increase in the company's IT budget. In 2025, IT expenditures reached 169% of the previous year's level. In 2026, we expect the growth rate to accelerate to 242% compared to the 2025 baseline. In December 2025, we launched the project "Development of pLTE Networks in the Kuranakh Ore Field."
Social Infrastructure
Could you provide more details on social infrastructure modernization projects? What are the plans for this year?
Social Policy at Polus Remains a Top Priority
Polus continues to prioritize its social policy, recognizing that comfortable living and working conditions directly impact productivity and employee retention. The company has built modern dormitories, launched its own bakery, and maintains a sports complex, among other initiatives. As part of its third joint project with DOM.RF under the corporate housing program, Polus is constructing three residential buildings with 291 apartments, along with a canteen and 400 square meters of non-residential space. The first building and canteen are set to be completed by September 2026, with the remaining buildings finished by January 2027. These efforts will significantly improve living conditions for employees.
Grant Support
— How is the company's grant program for social initiatives developing today?
The grant campaign led by the Polus Charitable Foundation (Polus Fond) is gaining momentum. In 2025, the foundation received 147 applications from 76 organizations and 41 individuals. Five legal entities and two individuals from Yakutia secured grants, while the second half of the year saw the continued implementation of 39 winning projects.
At the end of 2025, we expanded the grant program by launching a new competition—"Grant of Opportunities." This initiative supports projects that engage young people in meaningful public activities across education, science, career guidance, environmental protection, sports, and health. We are confident this will give an additional boost to regional development and help unlock the potential of young residents in the Aldan District.
Agreement with the Republic
— It's known that the republic and your company have signed an agreement. What key projects are included in the document?
In April 2025, we signed an agreement on the socioeconomic development of the Republic of Sakha (Yakutia). As part of this partnership, we have already funded the capital renovation of the Children's School of Arts in Nizhny Kuranakh, along with several other projects being implemented across Yakutia.
