Polymetal Int has estimated the primary ore reserves of the Nezhdaninskoye deposits at 1.9 million ounces of gold and 10 million ounces of silver. In particular, ore reserves for open-pit mining are estimated at 15.5 million tons of ore with the average gold content of 4 g per ton. Additional mineral resources are estimated at…
Silver and gold company Polymetal International is considering building a plant to refine refractory gold ore in the city of Sovetskaya Gavan in Russia’s Far East, according to a statement published by the regional government on November 7. “The Sovetskaya Gavan’s site has all the necessary infrastructure and suits the new facility perfectly: there is…
In 2018 Polymetal intends to invest $15 million in the gold-mining project Kapan in Armenia, which corresponds to its 2017 level of investments. According to the company managing director Vitaly Nesis, Polymetal intends to mine 530 thousand tons of ore at Kapan this year and 650 thousand tons next year. The goal of the company…
Polymetal CEO Vitaly Nesis thinks that silver has more prospects than gold. According to him, demand for silver is much higher, while the output decreases. In time price of silver will grow. At the same time, it is difficult to forecast gold price. That’s why Polymetal CEO believes that silver is better than gold. “Silver…
In Q3 Polymetal International plc produced the record of 470 thousand ounces of gold, up by 26% YoY. In 9 months gold output totaled 1028 thousand ounces, up by 15% YoY and corresponds to the annual plan of 1.4 million ounces. Silver output dropped by 7%, to 7.4 million ounces. Sales in Q3 reached $546…
Russian gold producer Polymetal International has increased gold reserves of the Komarovskoye field in Kazakhstan by 57%, to 1.374 million ounces, or 42.7 tons, Polymetal said in a statement on October 11. The reserves were calculated under the 2012 JORC standards and “incorporate data from 387 diamond drill holes completed after Polymetal had agreed to…
Omolonskaya Gold-Mining Company (OZRK), a part of Polymetal, has received a license to prospect a new site of the Nadezhda Ore Group in the Magadan region. The license is valid for 7 years. The site is 45 km from the Kubakinskaya gold-processing factory, belonging to OZRK. The company will start drilling in 2018. If gold…
In January-June Polymetal International increased output by 7% YoY, to 558 thousand troy ounces of gold equivalent. “In the second half of the year the output will grow even more because of the seasonal sales of concentrate stocks at the Mayskoye deposits and the higher output at Amur Mining and Processing Works”, the company said…