Renova unit to invest 22 bln rbl in Kamchatka gold deposit

MOSCOW, Aug 22 (PRIME) -- Zoloto Kamchatki, part of Russian multi-industry holding Renova Group, plans to invest 22.3 billion rubles in the development of the Kumroch gold deposit in the Kamchatka Region and construction of a mining and processing plant, according to documents for the Eastern Economic Forum seen by PRIME on Tuesday.

At present, the first stage of the plant is being designed. The gold mill is to have an annual capacity of up to 500,000 tonnes.

According to the region’s natural resources ministry, the facility should be built by 2023.

The Kumroch deposit’s C2 gold reserves are estimated at 30 tonnes and predicted P1+P2 reserves at 103 tonnes.

Zoloto Kamchatkin has nine licenses to develop gold deposits in the Kamchatka Region with a combined resource base of over 375 tonnes of gold.

(59.1409 rubles – U.S. $1)

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