Gold producer UGC boosts output 61% in 2015
MOSCOW. Feb 11 (Interfax) - The OJSC Uzhuralzoloto Group (UGC) of companies boosted output 61% in 2015 to 13.7 tonnes or 440,000 oz, the company said in a statement.
Production grew with the launch of a gold recovery plant, capacity 8 million tonnes of ore per year, at the Svetlinskoye deposit. The plant should reach full capacity in 2016.
Also, UGC consolidated 100% of LLC Sovrudnik, a gold mining outfit based in the Krasnoyarsk territory, in Q1 2015. Sovrudnik produced 4.4 tonnes or 141,000 oz of gold last year.
The group plans to raise gold production to 20 tonnes by 2018 by building new and renovating existing recovery plants.
Its gold reserves are 910 tonnes or 29 million oz.
UGC is nearly 100% owned by Ugold Limited, which is controlled by UGC chairman Konstantin Strukov through Ugold Limited.
The Uzhuralzoloto group's assets include Sovrudnik, Kochkarskoye, the Svetlinskoye, Bereznyakovskoye, South Kurosan and West Kurosan fields in the Chelyabinsk region, the Kommunarovsky Rudnik mine in Khakasia, Darasunsky Rudnik in the Chita region and Drazhny in the Krasnoyarsk territory.