26 Nov 2018 13:46

Renova miner buying new gold-silver section for 25 mln rubles

MOSCOW. Nov 26 (Interfax) - GOK Amethystovoye, a subsidiary of Zoloto Kamchatki (Gold of Kamchatka), part of Viktor Vekselberg's Renova group, has won the auction to the Ivolga gold and silver section in Kamatka's Penzhinsky district.

The starting price in the auction was about 23.6 million rubles and the winning bid was about 25.3 million rubles, according to information on www.torgi.gov.ru.

Ivolga covers 206.38 square kilometers. The forecast P2 resource is estimated at 9 tonnes of gold and 3,500 tonnes of silver and the P3 resource: 1.275 tonnes of gold and 252.4 tonnes of silver.

GOK Amethystovoye, which entered production in September 2015, is currently Zoloto Kamchatki's biggest production asset. The company itself is one of Russia's top ten gold miners, producing about 5 tonnes of gold a year.