Polyus has been allowed to extract 74.5 tons of gold at Panimba

​The Government of Russia has allowed “Krasnoyarsk geological exploration enterprise” (in the structure of Polyus) to extract gold within the borders of the Panimba ore hub.

“Krasnoyarsk geological exploration enterprise” is allowed to hold exploration and extraction of hardrock gold at the federal subsoil site comprising the Panumba ore hub in the North-Yenisey district o the Krasnoyarsk region in conformity with the issued to the company license.

Rosnedra determined the reserves of this site as follows:

C1 – 7.46 mln tons of ore, gold -21.133 tons;

C2 – 24.12 mln tons of ore with the average gold content of 2.29 g/ton, gold -53.37 tons.

In September 2014 Polyus won the license for the geological study, further exploration and extraction of hardrock gold at the Panimba ore hub. The amount of the start-up payment made up 2.24 mln roubles. The license was issued for 25 years and presupposes the geological exploration within 5 years, then the construction of a gold mining plant. In 2009 the license was reissued to “Krasnoyarsk geological exploration enterprise” until November 1st 2029.