PJSC Polyus (LSE, MOEX PLZL) (Polyus, the Company) announces that the Natalka Mill has reached the level of above 80% of its design throughput capacity of 10 million tons on an annualized basis. Natalka has produced more than 40 thousand ounces of gold since the beginning of the year. Following the ramp-up, the mill will be producing c. 450 thousand ounces of gold annually.
Pavel Grachev, CEO of Polyus, commented:
This is an important milestone in bringing Natalka online. We are very content with the pace of the ramp-up and look forward to the achievement of the full capacity shortly. The Natalka operations will contribute to Polyus’ targeted increase in overall gold production to 2.8 million ounces in 2019.
Polyus is the largest gold producer in Russia and one of the top 10 gold miners globally with the lowest cost position. Based on its 2017 Ore Reserves and Mineral Resources, the Polyus group ranks second by attributable gold reserves and gold resources among the world’s largest gold mining companies.
The Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77
This announcement may contain forward-looking statements concerning Polyus and/or Polyus Group. Generally, the words will, may, should, could, would, can, continue, opportunity, believes, expects, intends, anticipates, estimates or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus Group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus Group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as of the date of this announcement. Polyus and/or any Polyus Company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.