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Development Projects


The key element of Polymetal's strategy is a creation of processing hubs - large regional processing centers. Such approach allows significant capital and operating costs savings and increases return on the invested capital.

At the moment, there are two projects in progress: Albazino-Amursk (Amursk hub, Khabarovsk Territory) and Mayaskoye (Chukotka Autonomous District). Omolon hub (Magadan Region) was commissioned in August 2010 - a year ahead of schedule. Albazino-Amursk is the company's largest and most promising project.

In 2009, the construction of a processing plant at the Albazino deposit and Amursk hydrometallurgical plant commenced.  

Amursk plant is the first of its kind in Russia where the POX method will be applied to recover gold from refractory ore concentrates. The plant's commissioning will allow to develop the Far Eastern deposits which haven't been developed previously due to the lack of a viable processing method.

Autoclave, the key element of the process circuit, was installed on site in November 2010. First metal from the Albazino ores is expected in 2011.

In the end of 2009, JSC Polymetal purchased the Mayaskoye deposit which was included into the Albazino-Amursk project as a resource base.  The deposit development envisions receiving the gold concentrate on-site and its further transportation to Amursk hydrometallurgical plant by sea.

Commissioning of Mayskoye is expected in 2012.

Polymetal's first regional hub - Omolon - was launched in August 2010: precious metal was produced at the re-started plant  at the Kubaka deposit. The plant is a processing center of the project with the resource base including Birkachan, Sopka Kvartsevaya, Oroch, Tsokol and Dalniy deposits.

«Our investment strategy has already given the result - gold production increase, and the company is on solid ground in terms of further disciplined expansion, -said V.Nesis, CEO of JSC Polymetal. - Completion of three development projects will assist Polymetal in overcoming crucial production barrier of one million ounces of gold equivalent per year which will allow the company joining the leading global gold and silver producers with good reason».