Russia's Seligdar to raise gold output 35% to 5 tns in 2016

MOSCOW, Dec 23 (PRIME) -- Russian polymetallic holding Seligdar plans to raise gold output by 35% to 4.74 tonnes in 2016, the company said in a statement Wednesday.

Rock capping will rise 60% to 16 million cubic meters, ore processing will increase 46% to 5 million tonnes. Seligdar also plans to launch a new gold producing facility at the Ryabinovoye mine.

Reserve recovery will be one of the company’s priorities, it said.

In 2015, Seligdar will produce 3.5 tonnes of gold, which is 1–2% less than the company forecasted earlier. It attributed the shortfall to poor weather conditions in March–May.

Seligdar also set the tin production goal for 2016 at 1,000 tonnes.

Seligdar comprises eight enterprises in the Yakutia republic, the Altai Region, Buryatia republic and the Orenburg Region. Seligdar owns 28 licenses to operate lode and alluvial gold deposits, including 13 operating mines.

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