Advertisement

Polyus Gold rises on completion of 'unprecedented logistics operation'

Russia-focussed Polyus Gold International has reported that key components of the new Natalka plant have been delivered on site and are expected to be installed in the third quarter of 2013 on schedule.

Russia-focussed Polyus Gold International has reported that key components of the new Natalka plant have been delivered on site and are expected to be installed in the third quarter of 2013 on schedule.

Polyus reported that the SAG mill, one of the world's largest in the gold mining sector, and the ball mill arrived at the port of Magadan, Russia on April 14th, where they were placed on mobile platforms for a 10-day, 406km road transfer to the Natalka site.

Advertisement - Article continues below

The two mills, which have a combined throughput of 1.228 thousand tonnes of ore per hour, were built by CEMTEC, a European manufacturer of processing equipment for the materials and mining industries.

In February 2013, they were transported from the manufacturer in Linz, Austria, to the Port of Antwerp, Belgium, from where they were shipped to Magadan on a journey of nearly 30,000km.

Pikhoya: Unprecedented logistics operation completed successfullyGerman Pikhoya, Chief Executive Officer of Polyus Gold, commented: "It was an unprecedented logistics operation in a challenging environment, which has been delivered successfully and ahead of the plan."

Polyus Gold International's share price was up 1.10% to 207.50p at 13:10 on Wednesday.

MF

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/economy/eu-economy/601422/heres-why-investors-should-care-about-the-eus-plan-to-tackle-covid-19
EU Economy

Here’s why investors should care about the EU’s plan to tackle Covid-19

The EU's €750bn rescue package makes a break-up of the eurozone much less likely. John Stepek explains why the scheme is such a big deal, and what it …
28 May 2020
Visit/investments/stockmarkets/601423/as-full-lockdown-ends-what-are-the-risks-for-investors
Stockmarkets

As full lockdown ends, what are the risks for investors?

In the UK and elsewhere, people are gradually being let off the leash as the lockdown begins to end. John Stepek looks at what risks remain for invest…
29 May 2020
Visit/economy/global-economy/601420/james-ferguson-the-virus-the-lockdown-and-what-comes-next
Global Economy

The MoneyWeek Podcast: James Ferguson on the virus, the lockdown, and what comes next

Merryn talks to MoneyWeek regular James Ferguson of Macrostrategy Partnership about what's happened so far with the virus; whether the lockdown was th…
28 May 2020