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October 22, 2020

@Polyus Confirms #SukhoiLog As World's Biggest #Gold Deposit

Polyus has published the first ore reserves statement done under international JORC standards for #SukhoiLog.


The report states that the #SukhoiLog #Gold Deposit in Eastern Siberia—about 6000 km from Moscow—contains 540 Million Tonnes at an average grade of 2.3 grammes of gold per tonne (g/t), for a total of approximately 40 MILLION OUNCES OF GOLD, making it the largest gold deposit in the world among both Greenfield and developed mines.


The deposit, which accounts for about a quarter of Russia's entire unmined gold, makes Polyus the world's second-largest gold miner by proven reserves, the company said on Thursday. 

The announcement (conveniently) comes a month after Polyus agreed to pay $128.2m to accelerate the buyout of its partner in Sukhoi Log, Russian State defense group Rostec, and take control of the 22 per cent stake in the deposit that it did not already own. 



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