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Polymetal sharply ups gold production in Kazakhstan

Business Materials 19 April 2017 12:50 (UTC +04:00)

Baku, Azerbaijan, April 19
By Elena Kosolapova – Trend:

Russian company Polymetal increased gold production within the Varvara project in Kazakhstan by 121 percent to 27,600 ounces in 1Q2017 compared to the same period of 2016, the company said in a message April 19.
The project includes the Varvara deposit and Komarovskoye mine and a modern processing plant with a capacity of 4.2 million tons per year.

Ore mining from Varvara deposit decreased by 24 percent to 502,000 tons compared to the same period of 2016. Ore mining from Komarovskoye deposit which was acquired by the company in April 2016 hit 433,000 tons in the reporting period.

Ore processing at the project increased by 8 percent to 805,000 tons in 1Q2017 compared to the same period of 2016.
Varavara deposit contains gold reserves of 2.9 million ounces at 1.6 gram per ton in accordance with the JORC Code.
Komarovskoye deposit is estimated at approximately 1.4 million ounces at 1.5 gram per ton. Resources of the deposit are estimated only to the depth of 280 meters, while mineralization is traced to the depth of 450 meters.

Follow the author on Twitter: @E_Kosolapova

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