Polymetals Kyzyl ships first concentrate to China

first_imgPolymetal International’s Kyzyl mine has shipped its first concentrate to China. On August 18, some 2,000 t of gold concentrate has been shipped by rail to an off-taker in China. Concentrate shipments to the Amursk POX hub are expected to start next month.In the meantime, the ramp up of Kyzyl is running according to plan. By October, the operation is projected to achieve its nameplate capacity of 150,000 t/month and recoveries of 86%. Polymetal plans to produce 80,000 oz of payable gold at Kyzyl this year, ramping up production to 280,000 oz in 2019 and 330,000 oz thereafter at an AISC of approximately $500-550/oz.“The first shipment of gold concentrate from Kyzyl is a major milestone bringing the company closer to first cash flow from the asset”, said Vitaly Nesis, Group CEO of Polymetal.”The project comprises the Bakyrchik refractory gold deposit and a state-of-the-art processing plant. Mining is initially by open pit method (10 years) and later will be replaced by underground mining. Mined ore is processed via conventional flotation followed by third party off-take and/or pressure oxidation at Polymetal’s POX facility in Amursk.Kyzyl is located in northeast Kazakhstan in a traditional mining region with good infrastructure and easy access to grid power and the railway. Based in the Auezov Village, the site is approximately 750 km east of the capital city of Astana and 75 km west of the mining and metallurgical industry centre of Ust-Kamenogorsk (or Oskemen population of about 300,000). Kyzyl is also in close proximity to the Russian (120 km) and Chinese (330 km) borders. The nearest railway station is 6 km away in the village of Chalobai, connecting Ust-Kamenogorsk to Shar, as well as Russia, China and Europe.last_img

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