Shahumyan (Kapan) gold mine

Kapan is an underground mine with a plant capacity of 750kt/a. Chaarat Gold acquired the asset from Polymetal in 2019, transforming the company from a developer to a producer. The company's revised mine plan and the mine's updated reserves and resources have increased mine life to at least 2026. Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.