Russia’s largest gold miner Polyus said it is working to open the WORLD’S LARGEST gold mine, securing 100% ownership of the Sukhoi Log gold deposit in Siberia, which has estimated reserves of 540 million tons of ore, containing 40 million troy ounces of gold.
According to the firm, the undeveloped Siberian deposit is the largest in the world. “As of May 31, 2020, ore reserves are initially estimated at 540 million tons with an average gold grade of 2.3 grams per ton.
Grachev explained that the new deposit secures Polyus’ position as the world’s second-biggest gold mining company by attributable reserves. Last month, Polyus agreed to pay $128.2 million to buy the remaining 22% stake in the giant deposit.
Polyus is the largest gold producer in Russia with assets in the Krasnoyarsk territory, Irkutsk and Magadan regions, and in the Republic of Sakha (Yakutia).
In 2019, the company produced 2.8 million ounces of gold, and plans to produce the same amount in 2020.
RT. com / ABC Flash Point Mineral News 2020.