https://www.engineeringnews.co.za

Nordgold launches new Russia mine

13th September 2018

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Gold miner Nordgold has formally launched its third mine – the new Gross operation in Yakutia, Russia, which will turn the company into an one-million-ounce a year producer.

The Gross mine will operate for 17 years and is expected to add 200 000 oz/y of to Nordgold’s production profile.

Construction of the mine began in June 2016 and the operation was launched this week at a ceremony during the Eastern Economic Forum, in Vladivostok.

“I believe we have firmly cemented Nordgold as a truly world leading developer of new gold mine assets. This gives us even greater confidence as we look to develop our Montagne d’Or asset in French Guiana, which is expected to be a major catalyst for much needed economic growth in the country” said Norgold CEO Nikolai Zelenski.

The Montagne d’Or project host proven and probable reserves of 2.75-million ounces of gold, with considerable expansion potential. In March last year, Nordgold announced a positive bankable feasibility study for the Montagne d’Or project, demonstrating that it has the potential to produce an average of 237 000 oz over the first 10 years of mine life, at an average grade of 1.73 g/t gold, resulting in an average all-in sustaining cost of $749/oz.

Nordgold launched two Burkina Faso mines – Bissa mine and Bouly – in 2013 and 2016, respectively.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.076 0.126s - 156pq - 2rq
Subscribe Now