Gold reserves of the Russian precious metals producer Polymetal International went up by 6% YoY, to 23.7 million ounces of gold equivalent in accordance with the JORC Code, the company said in a statement on February 27. Ore reserves of the company increased by 5%, to 25.2 million ounces of gold equivalent due to geological…
In H2 Polymetal Int plans to start developing the Primorskoye gold ore deposit in Magadan region. Excavation will start in Q4. The ore mined will be transported to be processed at the Lunnoye deposit factory, and a part will be exported. Primorskoye deposits amount to 3 tons of gold and 700 tons of silver. Annual…
Russian silver and gold producer Polymetal has raised ore reserves of its Kutyn field more than 2-fold, to 812,000 ounces of gold under the JORC code, the company said in a statement on February 12. “The updated JORC-compliant open-pit ore reserves estimate as of October 1, 2019 comprises 8.4 million tons of ore with an…
The Polymetal board of directors has approved of a payment of special dividends for 2019 in the amount of $0.2 per ordinary share. The total amount of dividends to be paid is $94 million. The dividends will be paid on March 5 in dollars. (Ukrainian metal)
In 2019 Polymetal International plc produced 1.316 million ounces of gold, up by 8% YoY, and 21.6 million ounces of silver, down by 15%. Total manufacture in gold equivalent grew by 3%, and by 4% exceeded the initial output target of 1.55 million ounces, having reached 1.614 million ounces. Copper manufacture dropped by 37%, to…
In 2019 Polymetal increased gold output by 3% YoY, to 1614 thousand ounces. The result is 4% higher than the initial manufacturing target of 1.55 million ounces. In Q4 2019 gold output decreased by 15% YoY, to 383 thousand ounces. Annual revenue grew by 19%, to $2.2 billion, and in Q4 2019 – by 1%,…
Omolonskaya Gold Ore Company, a part of Polymetal, intends to switch to solar energy. The project will be carried out at the Kubak Mining and Processing Works in Magadan region. The plant with the capacity of 2.5 MW will be commissioned in 2021. Estimated cost of the project is 300 million rubles. In spring Polymetal…
A Polymetal International mine has suspended operations because of a fire, a representative of the regional emergency services reported. “A fire broke out at a mine of the Omolon Gold Mining Company on the depth of almost 400 meters. 15 miners were evacuated to the surface,” the official said. (Prime/Ukrainian metal)