On October 23 Vysochaishiy (GV Gold) commissioned the Ugakhan Mining and Processing Works according to the schedule.
The Ugakhan gold deposits were discovered in 2010. The C1+C2 gold reserves are estimated at 49 tons (1.58 million ounces). The deposits will be developed till 2029.
Investments in the project totaled $200 million.
Each year the GOK factory will process some 3 million tons of gold-containing ore.
In 2018 Ugakhan is expected to reach its full capacity of 3 tons (96 thousand ounces) of gold per year. (Ukrainian metal)
