20 Dec 2010 17:06

Polyus Gold could pump 22 bln rubles into two Krasnoyarsk gold fields by 2020

KRASNOYARSK. Dec 20 (Interfax) - Polyus Gold could invest 21.722 billion rubles in the Panimbinskoye and Razdolinskoye gold deposits in the Krasnoyarsk territory in the period 2013-2020, the region's industry minister, Denis Pashkov, said at a meeting of the territory's government.

The deposits should be producing 5.5 tonnes of gold by 2018 and 16 tonnes by 2020, he said.

Pashkov also said a recovery plant at Polyus Gold's Blagodatnoye field would hit design capacity for 12 tonnes of gold in 2014.

Polyus Gold mined 133 tonnes of gold in the Krasnoyarsk territory in the period 2005-2009.

Pashkov also said that CJSC Vasilyevsky Rudnik, which is 62.5%-owned by Gazprombank, had so far invested 1.95 billion rubles of a planned 2.95 billion rubles in the Gerfed deposit for the period 2010-2014 and that the deposit should in time be producing 4.5 tonnes of gold per year, compared with 1 tonne at present.