Polymetal has increased ore reserves at its Kyzyl gold operations in northeast Kazakhstan by 18% to 41.7 million mt containing 8.5 million oz of gold at an average grade of 6.3 g/mt. Open-pit reserves of contained gold have increased by 37% to 4.2 million oz at an average grade of 5.7 g/mt since December 2018, while underground reserves are up 4% to 4.3 million oz at an average grade of 7.1 g/mt.
With increased reserves, mine life at Kyzyl has been extended by eight years to 2047.
Kyzyl is located in a traditional mining region with good infrastructure and easy access to grid power and rail transportation. Operations include the Bakyrchik refractory gold deposit and a state-of-the-art, 2-million-mt/y flotation processing plant.
Low-carbon concentrate is sent for processing to Polymetal’s pressure oxidation (POX) facility in Amursk, Russia, while high-carbon concentrate currently goes to third-party off-takers. With the launch of POX-2 at Amursk in 2023, Polymetal intends to process 100% of Kyzyl concentrate in-house.