Polymetal says sends first gold batch from Kyzyl to China

MOSCOW, Aug 20 (PRIME) -- Russian gold producer Polymetal International has shipped the first batch of gold concentrate from the Kyzyl field to China, the company said in a statement on Monday.

“Polymetal International…is pleased to announce that Kyzyl has shipped first concentrate to China. On August 18th, approximately 2,000 tonnes of gold concentrate were shipped by rail to an off-taker in China. Concentrate shipments to the Amursk POX hub are expected to start next month,” the company said.

The increase of the Kyzyl field’s production capacity is going on as planned. The company is to reach the projected capacity of 150,000 tonnes per month with a recovery ratio of 86% by October.

Polymetal plans to produce 80,000 ounces of commercial gold at the field until the end of 2018, and to raise the production to 280,000 ounces in 2019 and further to 330,000 ounces with all-in sustaining costs of U.S. $500–550 per ounce, the company said.

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