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Polymetal began industrial development of the new Oroch deposit in the Magadan Region
Polymetal began commercial development of the new Oroch deposit (Magadan region, Omolon Hub), Interfax reports. On Wednesday, the regional governor Vladimir Pechenyi together with Gennady Kuzmenko, director of the Magadan branch of Polymetal UK, launched blasting operations at a quarry in the Severo-Evensky region.
In the 2015 year, ore will be mined at the deposit, with 2016, the processing of gold and silver will begin. According to Polymetal materials, the reserves of the deposit amount to 0,2 million ounces of gold equivalent, resources - another 0,3 million ounces.
In 2014, Polymetal increased production by 12% compared to 2013 year, to 1,43 million ounces of gold equivalent.