• Bookmark
  • Print
  • Email

Quick facts

Location Khabarovsk Region, Russian Far East
Mining Open pit/ underground
Processing 600 Ktpa CIL/Merrill Crowe
1000 ktpa Heap Leach(Svetloye)
Ore reserves (JORC)* 0.9 Moz GE, 3.2 g/t average grade
Mineral resources (JORC)* 0.5 Moz GE, 5.2 g/t average grade
Production start date 2003
Life of mine 2024

2016 Results

Production
114.6 Gold (Koz), 1.3 Silver (Moz)
Adj EBITDA
US$ 89 m
Capex
US$ 19 m
TCC
$612/oz (GE)

Overview

Okhotsk is one of Polymetal’s principal assets with gold and silver operations and a 600 Ktpa Merrill-Crowe processing plant. Contributing mines include the main Khakanja pit, Ozerny developing open-pit operation and a trial mine at the AK Project.

The Company is expanding open-pit mining at Khakanja’s pit. An open-pit mining started at the new satellite Ozerny in Q4 2012 with. Ozerny is of considerable importance to the Group, given the relatively short life of the Khakanja mine (2018).

Polymetal also carries out near-mine exploration projects within 1,580 sq km of exploration areas, which aim to extend the economic life of Okhotsk. Active efforts are under way to identify small-scale high-grade open-pittable targets.

Okhotsk feeding sources:

  • Avlayakan open-pit gold and silver mine (2010-2017)
  • Ozerny open-pit gold mine

Location

The Khakanja mine is located in the Khabarovsk Territory, approximately 1,100 km north of Khabarovsk and 480 km west of the city of Magadan in a very sparsely populated area covered with taiga forest. The seaport of Okhotsk (which has a population of approximately 4 thousand people) is approximately 118 km to the south and can be accessed by an unpaved road built by the Group between 1999 and 2002 which is accessible all year.

The Yurievskoye deposit is located approximately 100 km to the south-west of Khakanja and the Ozerny deposit is located approximately 70 km to the north-west of Khakanja; both deposits can only be accessed by a winter road from January through mid-April.

Avlayakan mine is located 893 km from Khakanja. The ore is tracked to the port Kiran, transported by sea to Okhotsk and then by road to the Khakanja plant.

Fuel, consumables and spares are shipped to Khakanja from the seaports of Vladivostok and Vanino via the seasonal port of Okhotsk, which is open from late May until early November. From Okhotsk, cargo is transported to the mine by trucks. During winter, when the port is not accessible by sea, emergency spares are delivered to the mine by air.

Due to the remote location of Khakanja, electricity is generated on-site by diesel-powered generators, with a total installed capacity of 6 MW.

* GE = gold equivalent. Ore Reserves and Mineral Resources are in accordance with the JORC Code (2012). Mineral resources are calculated in addition to ore reserves

^ Top of page