All news

Polyus estimates extra MET payment for gold at $100 mln — CEO

The business will remain profitable but the payment will affect company’s cash flow, Alexey Vostokov noted

VLADIVOSTOK, September 4. /TASS/. Polyus gold miner has approximately estimated the extra payment of the mineral extraction tax (MET) surcharge on gold at 10% of global plus surplus above the level of $1,900 per Troy ounce as equal to $100 mln in current prices, CEO of Polyus Alexey Vostokov said in an interview with RBC television at the Eastern Economic Forum (EEF).

"We made a rough estimate - the extra payment will be about $100 mln in current prices. We treat such measures of the government with respect and therefore we will honor all the tax commitments," the chief executive said.

The business will remain profitable but the payment will affect company’s cash flow, Vostokov added.