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

Environmental certification for Lundin's Candelaria mine

Lundin Mining Corp has announced approval of an EIA to extend operations at the Candelaria copper mining complex in Chile

Lithium Africa and Ganfeng Lithium join hands in Africa

Lithium Africa Resources Corp. and China's Ganfeng Lithium Group Ltd. have created a 50/50 joint venture to accelerate lithium exploration and development

Mesh tech keeps Copper Mountain Mine going during outage

Rajant's Kinetic Mesh networking, BreadCrumb wireless nodes and InstaMesh networking software kept the mine safe at a critical time earlier this year

Diamond mine supports Yellowknife wildfire communities

Sustainability

Launch of China's first mining satellite developed with XCMC

Technology

Perpetua Resources to sign USA Department of Defense deal

Supply Chain & Operations