Polyus targets 4.4Moz by 2020
- Publishing Date
- 19 Jul 2011 4:14pm GMT
- Author
- Mining Journal
OJSC Polyus Gold has released details of a strategy to more than triple gold production to 137t/y (4.4Moz/y) by 2020.
In the next five years, the company plans to reach 115t/y, compared with the 1.4Moz (43.1t) produced in the year to end-December 2010.
The strategy includes improvements in current operations, expansion projects, and the construction of new projects.
The Russian gold company said: “The implementation of the strategy will allow Polyus Gold to become one of the world’s five largest gold mining companies in 2016.”
Chief operating officer James Nieuwenhuys added that the expansions and improvements will also result in lower operating costs over the next “several” years.
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