Russian state nuclear energy company Rosatom has signed an agreement to supply electricity to the Kyuchus gold deposit in Ust-Yanskiy and Verkhoyanskiy districts in the Republic of Sakha, Russia.

The agreement, which Rosatom co-signed with gold mining company PJSC Seligdar, will ensure 40 years of electrical power supply provided by the first land-based Small modular reactor (SMR) nuclear power plant (NPP) in the world - a RITM-200N reactor. 

The deal will commence on 30 June 2028, but the parties intend to sign a contract for energy supply before 30 September 2025.

Kyuchus is one of Russia's largest gold deposits with reserves exceeding 175 tonnes, according to Rosatom.

Sergey Ryzhov, chairman of the Board of Directors of PJSC Seligdar, described the project as "a landmark" for developing the Russian Arctic region.

"I am confident that such a reliable source of power as an SMR NPP will contribute to the success of the project for many years to come," Ryzhiv stated.

Evgeny Pakermanov, president of Rosatom Overseas, said the construction of the SMR NPP is "at the active stage of its development" and would be "an important factor" in ensuring the project's commercial success.

According to Rosatom, the construction of the SMR NPP would employ "the advanced reactor plant RITM-200".

The company explained that the land-based SMR NPP is designed to supply power to isolated energy grids or remote territories and consumers.

The plant's construction will "ensure an uninterrupted supply of clean energy" to the Kyuchus gold deposit.