In January-March, Zoloto Kamchatki increased gold production by 186%

17 May 2016
In January-March 2016,ZolotoKamchatki (included in Renova) increased its gold production by 186% compared to the same period last year to 1.493 tons (48 million ounces), silver production by 583% to 1.82 tons (58.51 ounces), the company reports.
In the first quarter of 2016, 47.95 thousand ounces of gold were sold at the average price of $1,207 per ounce. "The strong growth of the performance indicators is associated with the launch of GOK at the Ametistovoye deposit with a design production of up to 4 tons of gold per year," the company reports. In January-March, the mills of ZolotoKamchatki processed 177.6 thousand tons of ore. The current dynamics confirms the production forecast for 2016 - more than 5 tons of gold.
On September 25th, 2015, ZolotoKamchatki officially launched the Amethystovy GOK at the deposit of the same name with capacity of 600 thousand tons of ore per year; the investment in it is estimated at more than 20 billion.
According to the results of 2015, the company produced 2,544 tons of gold, which is 38.4% more than in the previous year. ZolotoKamchatki owns 9 licenses to develop gold deposits in Kamchatka with a total resource base of over 12 million troy ounces (over 375 tons) of gold. Gold reserves on the Amethystovoye mining make 51.8 tons of gold and 177.8 tons of silver, potential resources and reserves growth is estimated at a minimum of 50 tons; on theBaranyevskoyemining – 30.1 tons of gold, on Meletoyvayam mining– 27.6 tons, windfall – 7.7 tons Kumroch– 30 tons.
Source: RIA News Economical Information Agency "PRIME"