Asset report

Kyzyl (Bakyrchik & Bolshevik) gold mine

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Report summary

Polymetal acquired the Kyzyl gold project for US$620 million in September 2014. A feasibility study on the project was completed in November 2015. The study estimated 22 years operation with initial production for the first 10 years from 1.8Mt/a ore capacity open pit. Underground mining is targeted for 12 years at a throughput rate of 1.2Mt/a. The sulphide ore will be treated using differential flotation with the concentrate sent to Amursk POX hub and sold to third party off-takers. First gold production is expected in Q3 2018.

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