A Russian vessel that went missing over the weekend in stormy conditions was carrying as much as 700 tonnes of gold ore belonging to London-listed mining company Polymetal International.

The cargo carrier Amurskoe and its nine crew members disappeared in the Sea of Okhotsk on Sunday night, according to local media.

St Petersburg-based Polymetal has not released an estimate for the cost of the loss, but Nikolay Sosnovskiy, an analyst at VTB Capital, told Bloomberg that the gold ore was worth about $800,000.