Polyus Increases Estimates for Ore Reserves, Mineral Resources
April 29 2021 - 10:59AM
Dow Jones News
By Adriano Marchese
Polyus PJSC said Thursday that it has increased its estimates
for ore reserves and mineral resources.
The Russian gold miner said its total proved and probable ore
reserves increased to 104 million ounces of gold as of Dec. 31,
2020, compared with 61 million a year earlier, which represents an
increase of 71%.
Polyus said the new estimates primarily reflect the inclusion of
ore reserves for Sukhoi Log in Russia as well as additions at
several operating mines.
The measured, indicated and inferred mineral resources are
estimated at 204 million ounces of gold, up from 188 million ounces
as of Dec. 31, 2019.
"Polyus is now confirmed to have the largest reserve base
globally, with approximately 97% of these reserves attributable to
our operating mines and our flagship greenfield project, Sukhoi
Log, where we plan to complete the Bankable Feasibility Study and
make a final investment decision on the project in 2022," Chief
Executive Pavel Grachev said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 29, 2021 10:44 ET (14:44 GMT)
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