Polymetal International plc has put into operation a gold-processing factory at the Kyzyk deposits ahead of schedule and with lower expenses.
On June 25 the first gold concentrate was obtained.
The construction is expected to cost $325 million, down by 3% from the originally planned amount.
The first deliveries to customers will start in late July.
By October the full capacity of 150 thousand tons per month is expected to have been reached.
This year Polymetal intends to produce 80 thousand ounces of gold at the factory, start producing 280 thousand ounces per year in 2019 and further increase output to 330 thousand ounces.
Kyzyk JORC reserves are estimated at 7.3 million ounces with the gold content of 7.7 g per ton. (Ukrainian metal)