5.4 C
Belgrade
17/04/2024
Mining News

Russia’s Polyus gold reserves become world’s largest

Polyus was previously the world’s third-largest gold miner by reserves behind Newmont and Barrick.

Russia’s largest gold producer Polyus said that its total proved and probable ore reserves had risen by 71% to 104-million troy ounces of gold at the end of 2020 due to inclusion of reserves at its giant Sukhoi Log deposit.

Supported by

“Polyus is now confirmed to have the largest reserve base globally, with approximately 97% of these reserves attributable to our operating mines and our flagship greenfield project, Sukhoi Log,” Polyus CEO Pavel Grachev said in a statement.

The Russian gold producer plans to take a final investment decision on the Sukhoi Log project in Siberia in 2022.

The company’s measured, indicated and inferred mineral resources were estimated at 204 million ounces of gold at the end of December, compared with 188-million ounces at Dec. 31, 2019, it added.

Source: miningweekly.com

 

 

Related posts

European Union slashes imports of Russian iron and steel products in 2023 amid sanctions

David Lazarevic

Aluminum slid and nickel pared earlier gains after a package of US sanctions omitted any major curbs on Russian industrial metals

David Lazarevic

A major Chinese construction and engineering company agrees to help develop Russia’s largest titanium deposit located in the Arctic

VM
error: Content is protected !!