Polyus puts $3.3bn price tag on ‘unparalleled’ Sukhoi Log
A mine at Sukhoi Log – the world’s largest untapped gold deposit – would require a capital investment of $3.3-billion, London-listed Polyus said this month when it announced the prefeasibility study (PFS) results for the Russian project.
The 2020 PFS study targets a processing capacity of 33.2-million tons a year, compared with 30-million tons a year in the 2018 scoping study, with a recovery rate of 92%. The yearly production forecast increased from 1.6-million ounces a year to 2.3-million ounces a year at a total cash cost of $390/oz.
The scoping study scenario had a price tag of $2.3-billion.
“Sukhoi Log is a greenfield project of unparalleled quality and scale,” said Polyus CEO Pavel Grachev.
The PFS was completed by an in-house team, in partnership with international consultants. Polyus is now progressing to the feasibility study stage, during which a more precise technical and financial analysis of the project will be done.
The company plans to release the feasibility study results in the second half of 2022, followed by the final investment decision. Hot commissioning and the first gold being poured are scheduled for 2027.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation