Polyus entity acquires placer deposit in Irkutsk Region for 50 mln rubles

IRKUTSK. December 21 (Interfax) - The Subsurface Management Department of the Central Siberian District (TsentrSibnedra) has granted JSC Lenzoloto Gold Mining Company (part of Polyus ) the right for geological study, exploration and production of placer gold at the Takhtykan-Berikan River subsoil area in the left inflow of Illigir River in Irkutsk Region, according to torgi.gov.ru.

Lenzoloto became the only bidder in the auction, which was declared void. The company will pay 50.3 million rubles for the license with the starting amount of the one-time payment being 45.7 million rubles.

The license is granted for 25 years.

The subsoil plot is located in the Bodaibo district of the Irkutsk Region, 60 km from Bodaibo.

According to the auction documentation, 292 kg of C1 alluvial gold balance reserves and 581 kg of C1 off-balance reserves were proposed for licensing within the boundaries of the site. These reserves are recorded in the materials of the State Commission on Mineral Reserves from 1950 and 1955. According to the documentation, these reserves require reevaluation.

Furthermore, there are industrial deposits within the boundaries of the site, which are "represented by tailings of exhausted buried and modern placers. It is noted that in the area of industrial deposits it is possible to estimate inferred resources of placer gold, based on the amount of gold mined earlier (8,073 tonnes) taking into account technological losses (according to "Lenzoloto", 10%): according to the auction documentation, inferred P2 resources of industrial gold within the site were tested in the amount of 807 kg.

According to data from the Irkutsk authorities, which is cited in the documentation, there are no specially protected natural territories and valid licenses of local importance within the borders of the site, and the subsoil plot is not located within the borders of settlements.

Polyus is the largest Russian gold mining company. It develops ore and placer deposits in the Krasnoyarsk region, the Irkutsk and Magadan regions, and also in Yakutia. The largest shareholders are the Fund for Support of Islamic Organizations (46.35%) and Akhmet Palankoev's Akropol Group (29.99%).