Polymetal International plc announced about the first golden concentrate gained in the ore concentration plant of the Kyzyl deposit in East Kazakhstan region, LS reports.
According to the company, capital costs of the project will be by 3% less that the first estimates for 325 million dollars, including capital mining operation at the preparation stage in the amount of 63 million tons.
According to Polymetal, the production at the deposit has entered the project product operation, and before the launch of the plane 315 tons of ore were stored.
The first deliveries of the concentrate to the buyers ate planned for the end of July, deliveries to the Amur hudrometallurgical plant will start in September.
At the present time, the ore concentration plant starts a three-month period of entering the project indications. It is expected that by October 2018, a full design productivity of 150 thousand tons a month and 86% of production will be reached. In October, Polymetal will organize a visit of investors and analytics to the deposit of Kyzyl. By the end of the year, the company plans to produce at the deposit 80 thousand ounces of commercial gold, and after entering the design indications, the annual production will reach 280 thousand ounces in 2019 with further increase to 330 thousand ounces while the average common money costs of 500-550 dollars per ounce," they said in the company.
Gold reserves at the Kyzyl deposit (according to JORC) are estimated to 7.3 million ounces with 7.7 g/t gold. Over the first 10 years, processing of the deposit will be conducted by the use of an open method with further processing by an underground method over 14 years. Additional resources of gold (according to JORC) are 3.1 million ounces with 6.8 g/t, that defines a considerable potential for increasing the exploitation term of the plant.
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