The board of directors of Polymetal International plc has approved of the Amur Iron and Steel Works-2 project and allowed the construction.
The second line of the Amur Works autoclave department (Amur-2) will considerably increase the company ore reserves, amounting to some 55% of the overall reserves.
The manufacture is expected to increase by 30-35 thousand ounces of gold per year.
Investments in the project are estimated at $431 million.
The design capacity of the enterprise will be 250-300 thousand tons of concentrate per year depending on sulfur content. (Ukrainian metal)