In 2014, Polymetal doubles gold reserves at its deposits

In  2014, Polymetal Int (includes assets of Polymetal) increased ore reserves of gold at its deposits two times to 17.8 million ounces (553.6 tons) as of January the 1st, 2015 from 8.9 million ounces as of January the 1st, 2014, the company reports.

At the same time, the silver ore reserves decreased by 4% to 210.7 million ounces (6 553 tons), and copper reserves increased by 4% to 79.8 thousand tons.

In terms of gold equivalent, by results of the year, the reserves of the company increased by 63% to 21.6 million ounces.

The average metal content in the reserves grew by 16% to 4.3 gr per ton. The growth is explained by the acquisition of the Kyzyl deposit (6.7 million ounces) in Kazakhstan, revision of assessment of some existing deposits and an initial evaluation at exploration projects, in particular Albazino (underground mining), Svetloye, Kutyn and Veduga.