Polyus Gold to finish first stage of Natalka mine by 3014
KHABAROVSK. Nov 10 (Interfax) - Polyus Gold will complete the first stage of a mine and recovery plant at the big Natalka field in the Magadan region by the end of 2013, the No.1 Russian gold miner's CEO, German Pikhoya, said.
Polyus Gold will fulfill all its commitments under the project, Pikhoya said at a meeting with Viktor Ishayev, the Russian president's envoy to the Far East Federal District.
"According to the schedule, the first stage of the plant should be built by the end of 2013. We will meet these commitments. This is a realistic timeframe," Pikhoya said.
A base for 200 construction workers is already being prepared, and some 1,500 people will eventually work on the site. The search is on for subcontractors, and exploration is being carried out at the same time, Pikhoya said.
Polyus Gold has said completion of the first stage of construction is scheduled for the fourth quarter of 2013. Full processing capacity of 10 million tonnes of ore a year will be achieved in 2014, with gold production projected to equal 18.2 tonnes that year. Investment in the first stage of construction will total 31.5 billion rubles.
The launch of the mining complex at the Natalka deposit will be completed in three stages: 10 million tonnes processing capacity per year in 2014; 20 million tonnes in 2016; and 40 million tonnes in 2020. At a processing capacity of 40 MTPA, gold production will amount to approximately 50 tonnes per year.
Natalka, one of the biggest gold deposits in the world, has proved and probable reserves totaling 78.18 million oz of gold (2,400 tonnes).
Pikhoya said at the meeting with Ishayev that the main difficulty that the company is facing is the absence of a power transmission line for the second and third stages of the Natalka mine and recovery plant. The company had also had difficulty with the absence of centralized power supply in the settlement of Khandyga and power lines to the Nezhdaninskoye field.
Ishayev said the Far East's economic development would be based on private-public partnership. "The state must provide the transport and energy infrastructure, and put the conditions in place for businesses that will provide jobs and wages for local residents and local taxes," he said.
Ishayev said he had one demand for all companies operating in the Far East - that resources are used effectively. "Resources must generate profit for the company and the region. Also, all companies in the mining sector must observe license agreements. We've never had any objection to Polyus Gold working in the Far East. We draw attention to the unconditional fulfillment of the deadlines and acting legislation," he said.