CEO says RussiaТs Mangazeya Zoloto can double gold output in 2018 - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

CEO says RussiaТs Mangazeya Zoloto can double gold output in 2018

CHITA, Jan 16 (PRIME) -- Russian gold producer Mangazeya Zoloto plans to raise production by 95% to 1.5 tonnes in 2018, CEO and owner Sergei Yanchukov told PRIME in an interview released on Tuesday.

The company will nearly triple double geological exploration spending to 350 million rubles this year to increase the Baikal region reserves of the group to over 100 tonnes, he said.

Production of the Savkino field is to grow to 800 kilograms from 770 kilograms.

УI think it will be its production level for years to come,Ф Yanchukov said.

Mangazeya Zoloto will also launch the Kochkovskoye deposit to produce about 700 kilograms of gold.

УWe have finished estimation works for the Kochkovskoye. Their results show that some of the reserves are in free-milling ore, where heap leach can be applied. The other part is primary ore, which is to be processed at a gold recovery factory. We plan to launch the project in 2018 on heap leach-adjustable ore,Ф Yanchukov said.

Mangazeya Zoloto hopes to receive a permit to build a gold processing plant in March and start building the facility to be launched in June 2019.

(56.3569 rubles Ц U.S. $1)


16.01.2018 12:29
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 70.7941 +0.1873 20 jul
USD 62.8666 +0.0380 20 jul
Stock Market Indices
1D 1W 1M 1Y
rtsi 1354.97 +0.39 17:13 19 jul
micex 2709.02 +0.24 17:13 19 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 217.30 -0.46 16:55 19 jul
lkoh 5209.50 +0.84 16:55 19 jul
rosn 419.70 +0.65 16:55 19 jul
sber 233.62 -0.49 16:55 19 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 70.6200 +0.1800 14:59 19 jul
USDTD 63.0300 +0.1575 17:44 19 jul