All news
10 Dec 2024, 10:09

Sukhoi Log gold deposit reserves amount to 43.5 mln ounces — Russian gold miner Polyus

The average gold content in the ore is 2.3-2.8 grams per ton

MOSCOW, December 10. /TASS/. The reserves of the Sukhoi Log gold deposit amount to 43.5 million ounces, according to a presentation by the Polyus gold mining company.

"43.5 million ounces is an updated estimate of the deposit's reserves conducted in May 2024 according to the international classification," the document says.

The resource potential of the deposit amounted to 81 million ounces of gold, said Konstantin Garanin, Vice President for Mineral Resources at Polyus, during the presentation.

The average gold content in the ore is 2.3-2.8 grams per ton.

Polyus is to build the largest gold recovery factory in Russia at the Sukhoi Log deposit, its capacity will be 34 million tons of ore, production will amount to 2.3-2.8 million ounces of gold per year. The company plans to build two lines of the plant in a single building. The first and second lines will be launched in in 2028 and 2029 respectively. Capital expenditures for the project are estimated at $6 billion.

Located in the Bodaibo district of the Irkutsk region, Russia’s Siberia, the Sukhoi Log deposit is one of the largest gold deposits in the world. Its launch and full capacity will increase gold production in Russia by more than 20%, making the country a world leader, the company's presentation says.