Polyus to centralise its management.

Polyus Gold of Suleiman Kerimov has reflected on the establishment of a management company for the operating assets. Many steelmakers did the same, but it basically allows the company to save time, but not the costs, experts state.

On July 20th the Board of Directors of OJSC "Polyus Gold" (a subsidiary of Polyus Gold, which owns the assets of the group) will consider the issue of participation of the JSC in "other organizations". Polyus representative explained "the Kommersant" that they were talking about the creation of the new company without revealing its name, which might subsequently become the management company for the companies of the group. "The purpose of this would be an increase of operational efficiency", - the company informs, stressing that there is no final decision yet. Polyus have three operating business units: the Krasnoyarsk deposit (Olympiada, Blagodatnoye and Titimukhta), Verninsk field in the Irkutsk Region and Kuranah in Yakutia. Natalka deposit in the Magadan region has not yet been launched.