Russia's Polybus gold corporation, commissions Natalka project

PJSC Polyus announce that the first stage of commissioning for the Natalka project has been officially launched by Russian President Vladimir Putin via video-link during a ceremony at the Eastern Economic Forum in Vladivostok. Following completion of the commissioning, the Company anticipates that full production will be launched at Natalka before the end of 2018.

The Natalka deposit is the company’s main new project, located in far Eastern Russia near Magadan, the project has never been touched by drilling. The processing plant is the largest in Russia, with capacity of 10 mtpa. Following a ramp-up it is expected to reach annual production of c. 420—470 koz for the duration of the mine life.

Natalka is reported to have ore reserves of 16 moz and mineral resources totalling 34 moz according to the JORC code methodology, and is the 15th largest gold asset globally by reserves

Natalka’s major processing equipment, including the primary crusher, the crushed ore conveyer, the primary SAG mill and the main ball mill, is currently in operation having undergone a successful trial run. The construction of auxiliary facilities and supporting infrastructure is ongoing.

Pavel Grachev, Chief Executive Officer of Polyus, commented:

"We are delighted to announce the long-anticipated launch of Natalka, Polyus’ main greenfield project and the largest gold mine in the Russian Far East. Natalka will provide up to 470 koz of additional production annually and support our targeted increase in overall gold production to approximately 2,8 moz by 2019. The project will also foster economic growth in the region through the creation of 2,000 jobs at the mine and the processing plant.”

Read the article online at: https://www.globalminingreview.com/exploration-development/11092017/russias-polybus-gold-corporation-commissions-natalka-project/