Polyus starts commissioning gold mine project in Russia's Far East

Polyus PAO

05/09/2017 16:12

MOSCOW, Sept 5 (Reuters) - Russia's top gold producer Polyus 
 PLZL.MM  said on Tuesday it had started commissioning its 
Natalka mine in the country's Far East, a project that is 
expected to help the firm lift its gold output by a third by 
2019. 
    Commissioning of the Natalka plant, the largest in Russia 
with capacity to process 10 million tonnes of ore a year, was 
formally launched by President Vladimir Putin during this year's 
annual economic forum in the Pacific port of Vladivostok. 
 urn:newsml:reuters.com:*:nL8N1L81WS 
    The output from the deposit is expected to reach 
420,000-470,000 troy ounces a year, helping Polyus lift its 
total annual production to 2.8 million ounces by 2019, Chief 
Executive Pavel Grachev said. 
    The firm expects to produce 2.075 million to 2.125 million 
ounces in 2017. 
    Natalka is a long-awaited greenfield project for Polyus, a 
firm controlled by the family of Russian tycoon Suleiman 
Kerimov. Polyus expects to reach full production levels at 
Natalka, whose mine life is 31 years, by the end of 2017. 
    Polyus said in a statement that "the first stage of hot 
commissioning of Natalka has been officially launched by Russian 
President Vladimir Putin via video-link during a ceremony at the 
Eastern Economic Forum in Vladivostok." 
    Russian officials often announce the start up of big 
projects or signing of major contracts at business events in a 
bid to woo more investors, particularly since Western states 
imposed sanctions on Moscow over its annexation of the Crimea 
peninsula from Ukraine in 2014. 
    During this year's forum, Putin officially launched several 
other projects, including a polished diamond factory in 
Vladivostock and a soy factory in the Far East's Amur region. 
    The Natalka project would create 2,000 jobs at the mine and 
processing plant, Polyus said. 
 
 (Reporting by Polina Devitt; Editing by Edmund Blair) 
 ((Polina.Devitt@thomsonreuters.com; +7 495 775 12 42; Reuters 
Messaging: polina.devitt.reuters.com@reuters.net)) 
 
Keywords: RUSSIA POLYUS/