Polyus aims to increase production 2.7 times by 2016.

Polyus aims to increase production 2.7 times by 2016.

For 2016, OJSC Polyus Gold plans to increase the production of its Russian deposits 2.7 times, to 115 tons per year, making it one of the world’s five gold producers. This was reported by Interfax with reference to the company s updated development strategy until 2020.

In particular, the document approved by the board at a meeting on Monday, July 18, 2011 assumes that from 2016 the launch of new projects in the Bamskoye, Nezhdaninskoye, Poputninskoye / Panimba and Chertovo depots will provide the company with additional production of 20 tons of gold per year.

The decision on construction will be made in 2013, the volume of capital expenditures is estimated at 37.5 billion rubles.

By 2020, Polyus Gold’s annual production is expected to exceed 137 tonnes of gold per year (as long as the Natalka deposit plant in the Magadan region reaches its design capacity of 40 tonnes of gold per year).

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