Russian gold and silver miner Polymetal International said it is “shocked and appalled” by the events going on in Ukraine.
The group, which operates mines in Russia and Kazakhstan, said the current intention is to operate as ”normally as possible".
Shares in Polymetal have tumbled almost 80% in the past fortnight as investors have scrambled to dump anything linked with Russia following its Ukraine invasion.
Sanctions against Russia’s central bank have seen the value of the rouble tumble, while actions are being taken against a group of the country’s billionaires with close links to Russian President Vladimir Putin.
Polymetal said the current devastating conflict in Ukraine and related economic and political developments are likely to 'require a lot of management efforts to maintain company performance'.
Results for 2021 showed flat revenues of US$2.89bn and net earnings down 15% at US$904mln.
Polymetal cut its final dividend by 42% to US$0.52, which it said was in line with the policy of paying out 50% of underlying earnings