Polymetal’s gold ore reserves fall 9% to 24.7 mln ounces in 2022

MOSCOW, Mar 1 (PRIME) -- The confirmed and estimated ore gold reserves of Polymetal Int, uniting assets of gold producer Polymetal, decreased by 9% to 24.7 million ounces in 2022, the company said in a statement on Wednesday.

Silver reserves fell by 12% to 211.3 million ounces.

The ore reserves of the company amounted to 27.3 million ounces in gold equivalent, with content in ore of 3.6 grams per tonne. The proven reserves stand at 6 million ounces, with content of 2.8 grams per tonne as of the start of 2023.

"In 2022, Group Ore Reserves decreased by 9% year-on-year to 27.3 million ounces of gold equivalent, mostly due to mining depletion,” Polymetal said.

“This was partially offset by the successful exploration results at Omolon hub (Burgali and Nevenrekan), Pesherny (Voro hub), as well as initial reserve estimates at Galka and Tamunier (Voro hub)."

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