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RFPI before the end of the year will make a final decision on investments in the development of the Natalka deposit

The Russian Direct Investment Fund (RDIF), together with Asian partners who planned to invest in the development of the Natalka gold deposit, the Polyus Gold project, will make the final decision on investments in this project by the end of the year, RIA Novosti reports.

"The Fund and partners will study the prospects of the project, taking into account the new data and plan to make a final decision on it by the end of the year," the agency's source said. The RDIF representative does not comment on the situation.

Earlier on Thursday, Polyus Gold announced that it was abandoning plans to commission the Natalka GOK in 2015 due to a significant (55-60%) decrease in the field's reserves estimate due to "a revision of the interpretation of the type of mineralization, the application of more stringent requirements of the JORC 2012 Code , changes in economic parameters, as well as an increase in cut-off grades ". The new resource estimate is expected to be 11-14 million ounces versus the previous estimate of 31,6 million ounces.

The head of the RDIF, Kirill Dmitriev, in September announced that the fund is at the final stage of agreeing with the Asian partners the conditions for participation in the development of the Natalka deposit and investment in the project can take place as early as 2014. This is about Chinese investors, he explained.

Polyus Gold yesterday, in its message, noted that "the company intends to reconsider options for further development of the project, including the search for potential partners for its implementation." The full report of the independent consultants will be received in 2015.

The largest Natalka gold deposit in Russia is located in the Tenkinsky district of the Magadan region. Natalkinsky GOK in 2014 had to reach its design capacity, but in December 2013 of the year, the largest gold producer in the Russian Federation Polyus Gold announced that the launch of the factory was postponed to the summer of 2015 of the year. Investment development of the Natalka deposit over 2012-2014 years amounted to about 1,2 billion dollars, or 41,9 billion rubles.

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