Polyus Gold evaluated future investment to Verninskoye and Blagodatnoye

Polyus Gold has evaluated its future investment that will be made in 2016 – 2017 into the Verninskoye and Blagodatnoye gold ore deposits development with the sum of up to $460 million. The projects for these deposits development will be prior for Polyus after the launch of Natalka at Magadan that was planned for summer 2015 with investment of $1.7 – 1.9 billion in 2011 – 2015.

In particular, investment to Verninskoye can be $240 – 260 million. Investment will be allocated to the enlargement of the processing capacity of the plant from 2.2 million to 3.6 million tons of ore. Gold production will increase to 120,000 ounces or 3.7 tons a year. In 2013, they produced 89,000 ounces or 2.768 tons of gold at Verninskoye.