Polyus to bring out Natalka to design capacity by May 2019

02 Jun 2016

Polyus PJSC will complete the construction and bring to the design capacity a mining and processing enterprise at Natalka gold deposit in Magadan region by May 2019, management of information policy of the region informs. “After it became known that the project will receive state support, a new investment agreement was concluded. It sets the completion date of the project “Construction of mining and processing enterprise on the basis of the Natalka gold deposit” on April 2019. The investment agreement also specifies Rudnik imeni Matrosova JSC as responsible for creating the energy infrastructure through investment funds and further technological connection to the electric grid complex of Magadanenergo JSC, the message explains. The construction of transmission lines 220 kV Ust-Omchug – Omchak Novaya and connection with existing power grids of already built 220 kV Orotukan – Palatka – Tsentralnaya high-voltage line are parts of the investment project. Under the new agreement, the date of completion of design and estimate documentation and state examination for this object was moved from May to August 2016. The start of pre-building training is scheduled for October 2016. As previously reported, in July 2015, CCR-SM Rosnedra approved the updated technical development of the Natalka deposit. According to this document, Rudnik imeni Matrosova JSC (part of Polyus) is planning to mine at Natalka gold deposit 758 kg of gold in 2017 and bring the factory at full capacity, processing up to 10 million tons of ore per year in 2018. In February 2016, Prime Minister Dmitry Medvedev signed three orders on state funding of investment projects in the Far East, including the allocation from the budget of 9.9 billion rubles for the construction of 135 km of power Ust-Omchug-Omchak transmission lines in the framework of the project of development of Natalka gold deposit. It is assumed that investment of Polyus in the project will amount to 88.5 billion rubles of private investment. Proven and probable ore reserves at Natalka field are estimated at 319 million tons with gold content of 1.6 g/t, which corresponds to the gold reserves in the amount of 16.3 million ounces (507 tons). Estimated, indicated and inferred mineral resources of the deposit are estimated at 777 million tons at content of 1.5 g/t, which corresponds to the resources of 36.8 million ounces.

Sourсe: RIA News ria.ru / Gold Mining Manufacturers' Reporter gold.1prime.ru