Polyus becomes world’s largest gold miner by reserves

Russia’s largest gold producer Polyus reveals its total proved and probable ore reserves have risen by 71% to 104 million ounces of gold

Russia’s largest gold producer Polyus orevealed that its total proved and probable ore reserves had risen by 71% to 104 million ounces of gold at the end of 2020 due to inclusion of reserves at its giant Sukhoi Log deposit.

Gold

“Polyus is now confirmed to have the largest reserve base globally, with approximately 97% of these reserves attributable to our operating mines and our flagship greenfield project, Sukhoi Log,” Polyus CEO Pavel Grachev said in a statement.

Polyus was previously the world’s third-largest gold miner by reserves behind Newmont and Barrick, reports Reuters.

The Russian gold producer plans to take a final investment decision on the Sukhoi Log project in Siberia in 2022.

Sukhoi Log Project

The company’s measured, indicated and inferred mineral resources were estimated at 204 million ounces of gold at the end of December, compared with 188 million ounces at Dec. 31, 2019, it added.

Sukhoi Log

Share

Featured Articles

China-Indonesia Nickel Dominance Fears Following LME Listing

China-Indonesia joint-venture PT CNGR Ding Xing New Energy has nickel product listed on London Metals Exchange, sparking nickel domination fears

EU 2023 Figures show Mining has Stalled on GHG Emissions

European Union figures from Eurostat show that – although EU GHG emissions fell in 2023 – mining made no progress, with coal mining the worst culprit

Rio Tinto, not Anglo American, 'is BHP's Real Target'

As Anglo American restructures in face of takeover bid, experts believe BHP's real target is Rio Tinto, the world's second largest metals & minerals miner

Anglo American Rejects Latest BHP Bid for Copper Supremacy

Supply Chain & Operations

Investing in America Boost for US Critical Minerals Mining

Supply Chain & Operations

Australia Looks to Loosen China's Grip on Critical Minerals

Supply Chain & Operations