Wednesday, April 19 2017 14:53

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.