Operations

Reserves and resources

Polyus reports its reserves and resources in accordance with the JORC Code 2012.

Ore Reserve estimates as at 31 December 20201,2,3

Proved Probable Total
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz)
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz))
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz)
Mines in Operation
Olimpiada 20 2.6 1.7 231 2.8 21 252 2.8 23
Blagodatnoye 70 0.81 1.8 214 1.5 10 284 1.3 12
Titimukhta 5.3 1.6 0.27 6.3 3.1 0.63 12 2.4 0.90
Verninskoye 16 1.4 0.70 68 1.7 3.8 84 1.7 4.5
Alluvials4 0 0.0 0.0 44 0.38 0.54 44 0.38 0.54
Kuranakh 0 0.0 0.0 200 1.0 6.4 200 1.0 6.4
Natalka 115 1.6 5.7 143 1.8 8.3 258 1.7 14
Development and Exploration Projects
Sukhoi Log 0 0.0 0.0 540 2.3 40 540 2.3 40
Panimba 0 0.0 0.0 5.7 1.9 0.35 5.7 1.9 0.35
Chertovo Koryto 0 0.0 0.0 62 1.5 3.1 62 1.5 3.1
Total 226 1.4 10 1,514 1.9 94 1,741 1.9 104

Mineral Resource estimates as at 31 December 20205,6,7

Measured Indicated Inferred Total
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz)
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz))
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz)
Tonnes
(Mt)
Gold
(g/t)
Gold
(Moz)
Mines in Operation
Olimpiada 20 2.6 1.7 297 2.9 28 209 2.9 20 526 2.9 49
Blagodatnoye 70 0.81 1.8 272 1.5 13 59 1.3 2.5 401 1.3 17
Titimukhta 5.3 1.6 0.27 6.1 3.3 0.65 0.33 1.4 0.01 12 2.5 0.92
Verninskoye 16 1.4 0.70 218 1.6 11 47 1.9 2.8 280 1.6 14
Alluvials8 0 0.0 0 182 0.17 1.0 31 0.40 0.40 212 0.21 1.4
Kuranakh 0 0.0 0 235 1.0 7.8 110 1.0 3.5 345 1.0 11
Natalka 120 1.7 6.6 257 1.8 15 147 2.1 9.9 524 1.9 32
Development and Exploration Projects
Sukhoi Log 0 0.0 0 668 2.1 46 441 1.5 21 1,110 1.9 67
Panimba 0 0.0 0 10 2.0 0.63 12 1.8 0.71 22 1.9 1.3
Razdolinskoye9 0 0.0 0 35 2.7 3.1 8.4 3.2 0.86 44 2.8 4.0
Chertovo Koryto 0 0.0 0 67 1.5 3.3 7.8 1.3 0.33 75 1.5 3.6
Bamskoye 0 0.0 0 15 1.8 0.87 5.1 1.6 0.26 20 1.8 1.1
Medvezhy Zapadny 0 0.0 0 0 0.0 0 6.5 1.8 0.38 6.5 1.8 0.38
Total 232 1.5 11 2,261 1.8 130 1,084 1.8 63 3,578 1.8 204

1 The estimates for all deposits are presented on a 100% ownership basis.

2 Any minor discrepancies for sums in the table are related to rounding

3 Gold price assumptions:

  • US$1,350/oz for those deposits where new mining studies were conducted during 2020 (Blagodatnoye, Kuranakh, Verninskoye, Sukhoi Log, and Panimba)
  • US$1,250/oz for Olimpiada, Titimukhta, Natalka, Alluvials, Chertovo Koryto.

4 For the Alluvials, cubic metres (m3) have been converted to tonnages using the general bulk density factor of 1.85 t/m3 strictly for the purpose of the summary accumulations. Gold grades have been adjusted from g/m3 to g/t accordingly. Contained gold estimates are not affected.

5 The estimates for all deposits are presented on a 100% ownership basis.

6 Any minor discrepancies for sums in the table are related to rounding.

7 Gold price assumptions:

  • US$1,650/oz for deposits with new resource models in 2020 (Verninskoye, Blagodatnoye, Kuranakh, Sukhoi Log, Panimba, and Razdolinskoye)
  • US$1,500/oz for Olimpiada, Natalka, Chertovo Koryto. Bamskoye, Medvezhy

8 For the Alluvials, cubic metres (m3) have been converted to tonnages using the general bulk density factor of 1.85 t/m3 strictly for the purpose of the summary accumulations. Gold grades have been adjusted from g/m3 to g/t accordingly. Contained gold estimates are not affected.

9 Measured, Indicated and Inferred Mineral Resources 2020 estimate for Razdolinskoye includes estimates for Svetloye, Zmeinoye, Antoninovskoye, and Poputninskoye deposits.