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Polyus to double gold output by 2030 becoming world’s second-biggest producer

Investment decisions on Chulbatkan and Chertovo Koryto are expected to be taken in 2025, while the launch on both projects is scheduled for 2029, the company said

MOSCOW, December 10. /TASS/. Polyus expects its gold output to double to 6 mln ounces by 2030 after the launch of production at its key development projects of Sukhoi Log, Chertovo Koryto and Chulbatkan, which will make the Russian gold miner the world’s second-biggest producer, according to files released by the company.

Investment decisions on Chulbatkan and Chertovo Koryto are expected to be taken in 2025, while the launch on both projects is scheduled for 2029, the company said.

"Aggregate production at the assets will amount to 600,000-700,000 ounces per year," according to files.

Polyus CEO Alexey Vostokov told TASS in 2023 that the company planned to start production at the Chulbatkan gold ore field in the Khabarovsk Region after 2029-2030, adding that the company expected the feasibility study on the field in 2025.

Polyus purchased a 100-percent share in the Chulbatkan gold ore field in the Khabarovsk Region from Highland Gold Mining group of companies for $140 mln in June 2022.

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