https://www.miningweekly.com

New $370m Nezhda mine produces first concentrate

18th October 2021

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Precious metals miner Polymetal has produced first gold and silver concentrate at its new Nezhda mine, located in Yakutia, Russia, with nameplate capacity and full design recovery expected by April.

The two-million-tonne-a-year openpit mine and combined gravity/flotation concentrator were built in 38 months following the construction decision, at a cost of $370-million.

“Starting production on schedule, first announced in the fourth quarter of 2018, demonstrates Polymetal’s executing strengths in the face of multiple challenges,” said CEO Vitaly Nesis on Monday.

The mine would produce up to 30 000 oz of gold-equivalent this year, with average output totalling 180 000 oz/y in 2022 to 2024, at an estimated all-in sustaining cost of $850/oz to $900/oz.

Further upside potential is linked to the opportunity of processing ore from the high-grade Prognoz silver deposit, owned by Polymetal.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.04 0.929s - 111pq - 2rq
Subscribe Now