Far East | Materials, extraction

Polymetal to invest $80m in projects in Magadan region by 2012

24 Nov '10
Precious metals manufacturer Polymetal has announced plans to invest $80m in development of its assets in Magadan region by 2012.

The investment project, named Kubaka Birkachan Sopka Kvartsevaya, reportedly unites several companys assets in Magadan regions North-Evensky district into a single technological complex.

Under plans, the investment program is to include development of Kubakinskaya gold mining factory, transport and logistics terminal in the village of Evensk, roads, as well as Birkachan, Oroch, Dalniy, Sopka Kvartsevaya metal deposits.

The company expects to grow precious metals extraction volumes at the deposits to 5.5 tons of gold equivalent by 2012.
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