Vysochaishy can mothball Ugakhansky GOK

Vysochaishy can mothball the Ugakhansky GOK if it’s not adjusted to an external energy supply and an operating on diesel electric energy because the project will become unprofitable with the gold price of 1,100 rubles per 1 g of gold compared to 1,541 rubles now, the CEO of the company S. Vasilyev says. Vysochaishy appealed for adjustment of Ugakhansky GOK to the grid connection but has not received the technical conditions as yet. Vysochaishy also suggested financing of construction of the static compensation batteries at the Bodaibo district substations but has not received such opportunity. The company is nearly locked in legal proceedings with the energy entities, Mr. Vasilyev says