June 26, 2018 / 6:20 AM / in 4 months

Russia's Polymetal to produce 80,000 troy ounces of gold at Kyzyl mine in 2018

MOSCOW, June 26 (Reuters) - Russian gold and silver producer Polymetal said on Tuesday it has launched its Kyzyl mine in Kazakhstan ahead of schedule and below budget.

The company said that the concentrator at Kyzyl had entered a three-month ramp-up period, after which it is expected to reach a capacity of 150,000 tonnes per month and recoveries of 86 percent by October.

Polymetal plans to produce 80,000 troy ounces of payable gold at Kyzyl this year, and to ramp up production to 280,000 troy ounces in 2019. (Reporting by Katya Golubkova; editing by Jason Neely)

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