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The unassuming billionaire: MB meets Polymetal founder Alexander Nesis

July 20, 2011 - 15:30 GMT Location: London

KEYWORDS: Polymetal , gold , silver , Alexander Nesis , Russia , Kazakhstan

Alexander Nesis is a far cry from the stereotype associated with men of his standing. The Russian founder of silver and gold producer Polymetal and investment company ICT Group is not overbearing or overly assured of his own importance, despite being in possession of a fortune estimated at more than £1.5 billion ($2.4 billion)

The Russian founder of silver and gold producer Polymetal and investment company ICT Group is not overbearing or overly assured of his own importance, despite being in possession of a fortune estimated at more than £1.5 billion ($2.4 billion). Rather, he is reserved, shy even, and apologises politely for being late. There are no handlers, no advisers – just one PR exec and a translator to assist Nesis with his English, which he freely admits is less than perfect. When it comes to Polymetal, however, it is clear that Nesis is confident of the company’s strength. It was founded in 1998 by ICT Group, and between 1999 and 2003, four green-field mining operations were set up on the basis of undeveloped gold and silver deposits. Polymetal now has operations in Russia and Kazakhstan, and “sees no reason to go to other countries”, Nesis tells MB. The company now claims to...

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