Kutyn gold project, Russia
Name of the Project
Kutyn gold project.
Location
The project is located in Tugur-Chumikan, in Khabarovsk Territory, in the far east of Russia.
Project Owner/s
Polymetal International.
Project Description
The project has estimated Joint Ore Reserves Committee-complaint reserves of 8.4-million tonnes with an average grade of 3 g/t gold.
Ore will be processed through a 1.3-million-tonne-a-year heap-leach facility followed by the Merrill-Crowe process. Average life-of-mine (LoM) gold recovery is 71%.
LoM gold production is estimated at 575 000 oz.
The project will use conventional openpit mining methods and the dry stacking of tailings, which is the safest tailings storage technology.
Potential Job Creation
More than 300 jobs are expected to be created.
Net Present Value/Internal Rate of Return
The project has a net present value of $79-million at a gold price of $1 200/oz and $157-million at a gold price of 1 500/oz.
Capital Expenditure
The project will require $80-million to complete.
Planned Start/End Date
Mining will start with prestripping in the third quarter of 2021, with first ore expected in the first quarter of 2022. First gold is expected to be produced in the second quarter of 2023.
Latest Developments
Polymetal approved the project in October 2020.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Polymetal International investor relations, email ir@polymetalinternational.com.
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