Polyus Group Board of Directors approved the group’s strategic development plan till 2010 and interim business plan for 2005. The strategy aims at making Polyus one of the world’s top 5 gold companies. This will be achieved through extensive exploration and development program and potential M&As, as well as by the construction of new production facilities to increase group’s gold output.

The Board also approved the company’s business plan for 2005. According to the plan, the group’s production shall remain at 33.7 tons (1.1 million oz) and reserves will grow by 140 tons (4.5 million oz). Ore processing plant at Olympiada deposit will increase its capacity up to 8 million mt a year as well as development and construction works will commence at Natalka deposit. The group’s total cash costs are expected at $199/oz.