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NEWS & EVENTS: Breaking News


 24.07.2008 10:05


July 24. Polymetal may engage its partners in a project to build a hydrometallurgical plant in Amursk, Khabarovsk Territory, Polymetal general director, Vitaly Nesus said in a phone-conference on Wednesday. "We are currently in preliminary negotiations with these companies", he said in reply to the question about possible participation of HGM and Polyus Gold in the project. "Of course, we are holding negotiations with two more companies". As was reported, in June 2008, Albazino Resources, part of Polymetal, started building a hydrometallurgical plant in Amursk, capable of processing 100,000 tons of gold concentrate a year. The plant will become part of the mining and metallurgical complex, which Polymetal plans to build in the region. The company also plans to build an ore-dressing and processing plant. The total volume of investment into construction of the enterprises, which are to be commissioned in 2H 2010, was estimated at USD 150-200 mn. The company plans to start extracting gold at the deposit in 2010. Polymetal's general director also said that the company saw great potential in acquiring companies involved in precious metal geo-exploration which had been affected by the global financial markets crisis.


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