MOSCOW, March 1. /TASS/. Polyus is currently entering the phase of growing capital expenditures and anticipate the capex peak in 2025-2027 amid implementation of the Sukhoi Log goldfield mining project, CEO of the Russian gold miner Alexey Vostokov told TASS.

"We are currently working in conditions of sanctions and continuing geopolitical and economic uncertainty, and the company at the same time enters the phase of growing capital expenses. The forecast for 2024 is Capex growth by more than 50%, to $1.55-1.7 bln. The increase is largely associated with the natural investment cycle, Sukhoi Log starting preparation, and inflation pressure that we see in terms of Opex and in terms of Capex. We anticipate amid Sukhoi Log implementation that the years of 2025-2027 will also turn out to be peaking in terms of Capex," Vostokov said.

The rise in capital expenditures occurs against the background of lower availability and higher value of debt financing, he noted.