By 2020, POLYUS will increase gold production by 1 million ounces

19 Jul 2016
According to the Economic Information Agency PRIME, mining company POLYUS is going to come out on the production of an additional one million ounces by 2020, said Pavel Grachev,the company’s general director.
"We will get 1 million ounces moreby 2020. This additional volume is divided into two parts, about a half goes from Natalka, another half from our brownfields. They, in turn, are divided into three parts: Krasnoyarsk assets, Verninskoye and Kuranah. The lion's share is taken by the Krasnoyarsk business unit, where we have three major projects: reconfiguration of ZIF-1, expansion of ZIF-4 and heap leaching at Blagodatnoye. At Kuranakh, there are two projects –plant expansion and heap leaching, and at Verninskoye - only the expansion of the plant,” said Grachev in an interview to the newspaperVedomosti.
“I can say that all brownfields have a very low costs of production, our capital expenditures for 2016-2017 in the amount of 600-650 million dollars a year will be at the peak in the investment cycle and significantly more than we will spend from 2018 onwards, in accordance with the current pipeline of the projects”,said the head of the company.
In addition, Grachev said that within two years the company will spend near $600 million on the implementation of the Natalka project. Commenting Natalka specifications and its production plans for 2017, CEO said, “The updated detailed design will be presented in August, so it is premature to speak of the final figures. The mine will be launched in the second half of 2017, due to this fact, next year performance indicators will be unrepresentative. The capacity of the project is about 450 million ounces a year.”
Speaking about the company's projects, Grachev said that Sukhoi Log fits into the concept of Polyus. “Specialization profileof the Polyus islargecareers. In this regard, Sukhoi Log, which also involves the development of an open method, fits perfectly into the existing portfolio of the projects”, he stressed.
Source: Economical Information Agency «PRIME»