Mangazeya plans to boost Nasedkino gold mill throughput 58% to 1.9 mln tpa by 2025, capex 7.5 bln rubles

MOSCOW. Jan 24 (Interfax) - Mangazeya Mining, which is part of Sergei Yanchukov's Mangazeya Group, has commenced its project to expand the gold recovery plant at the Nasedkino mine in the Trans-Baikal territory.

The company said in a statement that the plant's throughput capacity would be increased 58% to 1.9 million tonnes from 1.2 million tonnes per annum by 2025.

"The Nasedkino plant currently has the capacity to process 1.2 million tonnes per year. Our task is to increase this to 1.9 million tonnes by processing cyanidable ore from the Itaka field there," Sergei Yanchukov was quoted as saying.

The project's budget is 7.5 billion rubles, which includes the cost of building a 42-km road between the Nasedkino and Itaka sites.

Itaka's JORC compliant resources are estimated at about 148 tonnes of gold, 10% of which are contained in oxide ore suitable for processing at Nasedkino. The company expects resources to grow as the result of exploration.

Mangazeya is one of the top 20 Russian gold miners. Its production assets are located in the Trans-Baikal Territory. In addition to gold mining, the group is engaged in development, agriculture and other fields.