Russia’s Polymetal to develop Viksha PGM field

MOSCOW, Jun 20 (PRIME) -- The Russian government has granted the right to develop the Viksha platinum-group metals field to Semchenskoye Zoloto, a unit of precious metals producer Polymetal International, the government said in a statement Monday.

The reserves of platinum-group metals of the Viksha deposit, located in the republic of Karelia in the north-west of Russia, amount to 4.2 million ounces of platinum equivalent, according to the company’s data.

The company plans to finish an independent audit of the initial reserve evaluation and to create the basis for the deposit’s development by the end of 2016.

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