Nezhda is Russia’s fourth-largest gold property, containing an estimated proved and possible reserves of 4.4 Moz gold equal at common grade of 3.6 g/t. Mineral sources (further to ore reserves) comprise 8.1 Moz gold equal with common grade of 5.1 g/t.
Building of the two Mtpa open-pit mine and mixed gravity/flotation concentrator have been in-built 38 months following the ultimate development resolution. Complete undertaking capex by the point of full ramp-up shall be roughly $370 million.
“Beginning manufacturing on schedule, first introduced in This autumn 2018, demonstrates Polymetal’s executing power within the face of a number of challenges,” Vitaly Nesis, Group CEO of Polymetal, said in a information launch.
“The mine ought to ramp as much as full capability and begin producing free money flows by Q2 2022,” Nesis added.
This 12 months, Polymetal plans to supply as much as 30,000 ozgold equal at Nezhda with common manufacturing of 180,000 ozper 12 months in 2022-2024 at estimated AISC of $850-900/oz.
Additional manufacturing upside is linked to the chance of processing ore from the high-grade Prognoz silver deposit that’s wholly owned by Polymetal.