By Jaime Llinares Taboada

 

Polyus PJSC said Wednesday that it has made a final investment decision on the construction of a new mill at its Blagodatnoye gold mine in Russia.

The company said the Mill-5 project will involve capital expenditure of around $600 million, including the construction of the mill, the introduction of an in-pit crushing and conveying system, as well as mining fleet upgrades.

Mill-5 is expected to be launched in 2025 and could provide 390,000 ounces of incremental gold volumes post ramp-up, Polyus said.

Shares in Moscow at 0800 GMT were up 0.6%.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

December 23, 2020 03:33 ET (08:33 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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