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Investments in Neryungri Mine will amount to about one billion rubles

  • Published in Economy

Neryungri-Metallic gold-mining enterprise (Republic of Sakha (Yakutia), Russia), part of Nordgold international company, plans to invest about one billion rubles in investments in 2017, which is 11% more than in 2016.

As the press service of the Company informed IA SakhaNews, most of this year's investments will be aimed at maintaining production, upgrading and updating machinery - about 830 million rubles (including 280 million rubles for capitalized stripping works). Another significant assignment of capital investments is geological prospecting (exploration), for which about 127 million rubles are planned to be allocated this year.


Executive Director of Neryungri Metallic Vitaliy Zagan said: "Investments in the current production mean stability today, and investments in exploration - reliable tomorrow. From year to year we are focusing heavily on these two important aspects of our business. Facilities modernization, vehicle fleet renovation, purchase of new equipment, coupled with restocking allow us to look to the future with optimism, to be one of the largest gold producers in the region and a reliable employer. In addition, our commitment to the principles of safe production is paying off, in 2016 we have worked on the highest industry standard, that is, without injuries with loss of working time."


"Innovative activity is not alien to us. So, in 2016, we made a breakthrough in the production chain of the Neryungri Mine - introduced a new way of extracting gold from coal fines withdrawn from the process. Thanks to this innovation, the enterprise in 2016 additionally received 29 kg of gold. The effect of the project was more than $ 1 million,- said Executive Director of Neryungri-Metallic Vitaly Zagan.- In addition, we have introduced an innovative BMT (Blast Mining Technology) to determine the displacement of the ore body after blasting. The technology allows to reduce losses of ore during mining operations."


In general, in 2016, the Gold Extraction Plant of the Neryungri Mine poured out 514 ingots of Dore alloy, each weighing about 6 kg. Dore alloy is gold with silver particles and other impurities. After final purification refining the annual production of gold was 80.5 ounces (or 2.5 tons) of the highest standard - 999.9.

In 2017, the mine intends to keep the volume of ore processing at the level of 2016 - about 5 million tons. The gold content in the ore will be about 0.6 grams per ton. The development of Gross deposit will continue with the processing of ore at the Neryungri Mine.  In 2017 the enterprise intends to start development of a new field, Tyomnoye, after receiving all the permits.


Nordgold is International Gold Mining Company founded in 2007. Nordgold has significant experience in achieving high operating efficiency and successful development of high-quality and low-cost gold mining projects.

The Company focuses on creating value for its shareholders, ensuring the highest possible safety and high efficiency of production processes, which allows Nordgold to generate a stable cash flow and invest in prospective development projects while simultaneously returning capital to investors.

In 2016 Nordgold produced 869 thousand ounces of gold.

The Company owns nine operating mines (four in Russia, three in Burkina Faso, one in Guinea and Kazakhstan).

Nordgold also has one project under construction (Gross in Russia), several promising projects and projects with localized resources, as well as a broad portfolio of geological exploration projects and licenses in Burkina Faso, Russia, French Guiana and Canada.

Nordgold employs more than 8,000 people.