Polyus becomes world’s largest gold miner by reserves

Share
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

Rockwell to Drive Mining Industry Supply Chain Visibility

Rockwell Automation teams up with Circulor to enhance supply chain transparency and sustainability, empowering manufacturers to meet regulatory demands

Steel Recycling 'can Counter Coal & Iron Mining Carbon Cost'

Growing ferrous metals recycling market projected to increase significantly by 2030 and will help reduce reliance on coal & iron mining for steel products

How Tech Drives Responsible Sourcing at Vale SA

Vale SA CPO & Global Inbound Logistics Director Marco Braga offers insight on the company's tech-driven sustainable procurement startegy

Albemarle Faces Billion-Dollar Loss Amid Lithium Price Drop

Supply Chain Management

Mining Automation Giant ABB has Sustainability in Sights

Sustainability

Focus on: Neodymium - Rare Earth Mineral With Pulling Power

Supply Chain & Operations