Polyus Makes Final Investment Decision on $600 Million Expansion of Blagodatnoye Mine, Russia
23 December 2020 - 7:48PM
Dow Jones News
By Jaime Llinares Taboada
Polyus PJSC said Wednesday that it has made a final investment
decision on the construction of a new mill at its Blagodatnoye gold
mine in Russia.
The company said the Mill-5 project will involve capital
expenditure of around $600 million, including the construction of
the mill, the introduction of an in-pit crushing and conveying
system, as well as mining fleet upgrades.
Mill-5 is expected to be launched in 2025 and could provide
390,000 ounces of incremental gold volumes post ramp-up, Polyus
said.
Shares in Moscow at 0800 GMT were up 0.6%.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
December 23, 2020 03:33 ET (08:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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