Media

The Polymetallic Holding Group Seligdar (hereinafter referred to as the "Holding Group" or "Seligdar") continues the phased implementation of the Kyuchus project in northern Yakutia. The day before, during a session of the MINEX Russia mining forum titled "Design and Implementation of Mining and Processing Plants in an Era of Challenges: Economics, Logistics, Geography and Climate", representatives of the Holding Group spoke about the progress of this and other in-house investment projects.

Currently, three major projects are at the development stage: the construction of mining and processing complexes in Yakutia and the Chukotka Autonomous Okrug, as well as the construction of a metallurgical plant in the Khabarovsk region.

Since this spring, Seligdar has been conducting engineering surveys at Kyuchus to develop documentation and has now commenced the actual design of the future facilities of the complex and the selection of a contractor for construction.

The day before, Seligdar completed geological exploration and received approval from the State Commission on Mineral Reserves (GKZ) for the feasibility study of permanent exploration standards and reserve calculation in the amount of 188.6 tonnes of gold.

Dmitriy Parfenov, Head of Strategy and Investments at Seligdar PJSC:

"Any major project in the mining industry is characterised by a long-term implementation horizon, which involves a number of stages from geological exploration to the production of finished goods. We have completed geological exploration at Kyuchus and increased its resource base. Our further plans also envisage bringing its flanks into development. We have found the key to the Kyuchus ore in the form of an efficient and unique technology for Russian gold mining, so we assess the prospects for its further implementation positively."