Sign in

POLY on London Stock Exchange

Solidcore Resources

Logo: Polymetal International plc, Public domain, via Wikimedia Commons4

Precious metals mining company

Solidcore Resources plc, known as Polymetal International plc until June 2024, is a precious and base metals mining company registered in AIFC, Kazakhstan, and listed on Astana International Exchange. Solidcore operates two mines and one major development project in Kazakhstan. The Company's strategy aims to develop its own exploration projects, acquiring greenfield projects and leveraging its strong competencies in pressure oxidation processing technology that allows efficient treatment of refractory and double-refractory ores.2 It was founded by Alexander Nesis.1 Its chief executive is Vitaly Nesis (since 2011).1 It employed about 12,000 people in 2019.1 Its revenue was $2.9 billion in 2021.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

2010Founded1

Compare with another stock.

  • TickerPOLY on London Stock Exchange1
  • Industrymining1
  • HeadquartersSaint Petersburg1
  • Websitewww.solidcore-resources.com
  • Legal formjoint-stock company1
  • Listed onAstana International Exchange (CORE), London Stock Exchange (POLY), Moscow Exchange (POLY)1
  • LEI213800JKJ5HJWYS4GR613
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressOFFICE 1306, 10 DINMUKHAMED QONAYEV STREET, ESIL DISTRICT, 010000 Astana, Kazakhstan3
  • Registered withAstana Financial Services Authority, Astana International Financial Centre (AIFC), 2308409001313

See how the biggest companies compare on our leaderboards

Solidcore Resources plc, known as Polymetal International plc until June 2024, is a precious and base metals mining company registered in AIFC, Kazakhstan, and listed on Astana International Exchange. Solidcore operates two mines and one major development project in Kazakhstan. The Company's strategy aims to develop its own exploration projects, acquiring greenfield projects and leveraging its strong competencies in pressure oxidation processing technology that allows efficient treatment of refractory and double-refractory ores.2

Corporate structure

Solidcore Resources sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

The story

Founded by Alexander Nesis in 2010.1

Polymetal was founded in Saint Petersburg by Alexander Nesis of ICT Group in 1998.

The company acquired the Varvara gold and copper mine, near Kostanay in northern Kazakhstan, in June 2009.

In October 2011, Polymetal successfully completed the placing of £491m of shares on the London Stock Exchange, valuing the company at £3.55bn and making it the first Russian-founded company to obtain a premium listing at the LSE. In December 2011 Polymetal International became one of the first two Russian-originated companies to be included in the FTSE 100 Index.

Polymetal acquired another large gold mine, Kyzyl, in eastern Kazakhstan, where it could establish a processing plant, in May 2014.

In April 2019, Polymetal became the first foreign company to list on the Astana International Exchange.

In May 2023, the company announced the proposed redomiciliation of the company from Jersey to Astana (Kazakhstan) and delisting from the London Stock Exchange.

ICT Group sold its 23.9% stake in the company to a consortium led by the government of Oman in January 2024.

The company changed its name from Polymetal International to Solidcore Resources in June 2024.

From Wikipedia’s article on Solidcore Resources, shared under CC BY-SA 4.0.5

Leadership

Who has led Solidcore Resources, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Vitaly Nesis2011–now

Chair

  1. Bobby Godsell2011–2019
  2. Ian Cockerill2019–2022
201520202025

Products and brands

In 2024, Solidcore produced 490 thousand ounces of gold.

Solidcore owns mines and carries out exploration activities in two regions of Kazakhstan.

Hubs:

Varvara is Solidcore’s first operation in Kazakhstan that was acquired by the Company in 2009 as a standalone gold and copper mine with a modern 4.2 Mtpa processing plant. Today, Varvara comprises Varvara leaching and flotation facilities, Varvara open-pit mine, Komarovskoye open-pit gold deposit that was acquired in 2016 and Baksy JV. Varvara is located in Kostanai Region, Kazakhstan, 130 km south-west of the regional centre of Kostanai. At both Varvara and Komar, ore is mined via conventional open-pit truck-shovel and drill-and-blast methods. The current life-of-mine plan provides for open-pit mining until 2042, with further extensions anticipated as a result of pit enlargement and additional exploration activities, particularly at Komar.

Read the full text

Standalone mines:

Kyzyl is the flagship Company’s asset and the second largest gold mine in Kazakhstan. It was acquired in 2014 for a total of US$ 618 million. The production facility combines the Bakyrchik gold deposit and 2.4 Mtpa flotation plant launched in 2018. Kyzyl is located in the Abai Region, Kazakhstan, 75 km west from Ust-Kamenogorsk. Bakyrchik gold deposit is planned to be developed via open-pit mining for more than 15 years and by underground mining starting from 2030 that can potentially last until 2054. Mined ore is processed via conventional flotation that delivers two types of concentrate — high and low carbon content.

From Wikipedia’s article on Solidcore Resources, shared under CC BY-SA 4.0.5

Subsidiaries and ownership

Owners

From Wikidata.1

Employees over time

  • 201912,0001

Revenue over time

As stated on Wikidata, in the currency reported.

Revenue

Solidcore Resources revenue by year1$2.9B in 2021+54% since 2018
0$1.0B$2.0B$3.0B2018: $1.9B$1.9B20182019: $2.2B$2.2B2019+19%2020: $2.9B$2.9B2020+28%2021: $2.9B$2.9B2021+1%
  • 2021$2.9B1
  • 2020$2.9B1
  • 2019$2.2B1
  • 2018$1.9B1

Net income

Solidcore Resources net income by year1$904.0M in 2021+155% since 2018
0$500.0M$1.0B$1.5B2018: $355.0M$355.0M20182019: $483.0M$483.0M2019+36%2020: $1.1B$1.1B2020+125%2021: $904.0M$904.0M2021−17%
  • 2021$904.0M1
  • 2020$1.1B1
  • 2019$483.0M1
  • 2018$355.0M1

Timeline

  1. Jun 17, 2013Went public Listed on Moscow Exchange1
  2. Oct 28, 2011Went public Listed on London Stock Exchange1
  3. Sep 29, 2011New chief executive Vitaly Nesis becomes CEO1
  4. 2010Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5