ArmInfo. Kapan mineral deposit made its deal in Polymetal gold production increase in QI 2017, the Company's message reads.
According to the source, in QI of 2017 Polymetal increased gold processing for 18%, up to 199 thousand ounces, decresed the processing of silver for 14% - down to 6,1 mln ounces. Beside that, in January-March Polymetal incresed the copper processing for 88% - up to approximately 500 tons, versus 200 for similar period of last year. The total production recalculated in golden equivalent for the reported period increased for 8% - up to 280 thousand ounces (8,7 tons). The company explains this growth by good results on Omolon and by the deal of new enterprises .
The Kapan deposit was obtained by Polymetal in 2016 and represents the first acting asset in the portfolio of Armenian companies. The deposit comprises fully equipped underground mine with a capacity of 400 thousand tons per year and infrastructure objects. For recent 5 years the former owner has invested about USD 74 mln in the mine.
Polymetal Int is a russian gold, silver and copper mining company with acting entities and projects in Russia, Kazakhstan and Armenia. In 2016 the company ingreased gold processing for 3%, up to 890 thousand ounces (27,7 tons) silver - decreased for 9% down to 29, 2 mln ounces (908, 2 tons). The bonds of the company are registered at London and Moscow stocks.
