Polymetal hails first gold pour at Amursk
Russian mining giant Polymetal celebrated its first gold pour at the Amursk POX facility last week and expects full capacity at the plant later this year.
Russian mining giant Polymetal celebrated its first gold pour at the Amursk POX facility last week and expects full capacity at the plant later this year.
Two dore bars (which hare alloys of a mixture of gold and silver) weighed 11,750g in total, containing 8,190g (263oz) of gold and 1,701g (55oz) of silver.
"I am very excited about the achievement of this crucial milestone for the POX project and for Polymetal as a whole," said Vitaly Nesis, Chief Executive Officer of Polymetal.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The next key achievement should be the declaration of full commercial production in September," he said.
Polymetal said that the ramp-up of the facility, located in eastern Russia, is proceeding as planned with full capacity - 250,000 tones of concentrate per year according to its website - expected to be achieved by the end of the third quarter.
BC
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Is now the time to buy Marshalls?
Former market darling Marshalls, a landscaping and building products supplier, looks too cheap. Is it time to buy this once-admired stock?
By Jamie Ward Published
-
Shein’s London IPO could go ahead, despite forced labour concerns
The chief executive of the Financial Conduct Authority suggests that alleged human rights breaches aren’t a reason to block Shein’s proposed London IPO
By Dan McEvoy Published