PRESS RELEASE: On August 18th, approximately 2,000t of gold concentrate has been shipped by rail to an off-taker in China. Concentrate shipments to the Amursk POX hub are expected to start next month.
In the meantime, the ramp up of Kyzyl is running according to plan. By October, the operation is projected to achieve its nameplate capacity of 150,000t/mth and recoveries of 86%. Polymetal plans to produce 80koz of payable gold at Kyzyl this year, ramping up production to 280koz in 2019 and 330koz thereafter at AISC of approximately US$500-550/oz.
Vitaly Nesis, group CEO of Polymetal, said: "The first shipment of gold concentrate from Kyzyl is a major milestone bringing the company closer to first cash flow from the asset."