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Major Investment Projects

DEVELOPMENT OF THE SUKHOI LOG DEPOSIT

About the project: Sukhoi Log reserves total 40 million gold ounces and 540 million tons of ore with an average content of 2,3 g/t (1244 tons of gold). Polyus company plans to develop this investment projects which implies construction of a mining and metallurgical plant with a capacity of 33.2 million tons of ore per annum.
Initiator: Polyus
Investment: $3.3 billion
Timeframe: 2022-2026

CONSTRUCTION OF AMUR HYDROMETALLURGICAL PLANT-2

About the project: AGMK-2 is aimed at processing of double-refractory ores and should ensure 100% processing of such types of ores at Polymetal’s facilities.

Total gold production: up to 600 thousand ounces per year, 4.3 million tons during the first 23 years of operation.

The total volume of concentrate processing: up to 300 thousand tons per year.

Initiator: Polymetal
Investment: $431 million
Timeframe: Production start – Q3 2023, nameplate capacity – end of Q4 2023

DEVELOPMENT OF THE MURUNTAU QUARRY

About the project: Navoi Mining and Metallurgical Company will allocate $445.9 million of own funds for the projects. The Uzbekistan Fund for Reconstruction and Development (UFRD) will provide the credit for $288 million.

Project development will enable to increase production to 47 million tons of ore per year.

Initiator: Navoi Mining and Metallurgical Plant
Investment: $733.9 million
Timeframe: 2018-2027

The feasibility study provides for the Phase 5 of the Muruntau quarry (the first stage).

DEVELOPMENT OF THE KYUCHUS DEPOSIT

About the project: The Kyuchus deposit is located beyond the Arctic Circle, on the territory of Verkhoyansk and Ust-Yansky uluses of the Republic of Sakha (Yakutia). The gold reserves at the site amount to 175.3 tons, and the resource potential is estimated at more than 250 tons.

According to the auction terms, the company is obliged to extract at least 10 tons of gold per year from the date of reaching the nameplate capacity and, no later than June 30, 2028, start using nuclear power generation of at least 35 MW, which will be supplied by a low-power nuclear power plant in Yakutia.

Initiator: White Gold Company (a joint venture between Rostec and Seligdar)
Investment: Capital project costs are estimated at $1.2-1.5 billion

Timeframe: The development auction has been won

CONSTRUCTION OF KHVOINOYE GOLD-PROCESSING FACTORY

About the project: The Khvoinoye gold deposit belongs to the Nizhneyakokitskoye ore field. The balance reserves amount to 16.8 tons of gold. Seligdar Holding intends to build a gold beneficiation plant with a capacity of 3 million tons of ore per year to process the ores from the deposit.
Initiator: Seligdar
Investment: 2 billion RUB were allocated in 2021
Timeframe: Start of construction – 2021, commissioning – 2023

CONSTRUCTION OF A MINING AND METALLURGICAL PLANT TO DEVELOP GOLD DEPOSITS IN THE ZHAMBYL REGION

About the project: It is planned to build a mining and metallurgical plant to develop gold deposits of Karatas-Maybulak site in the Zhambyl region. Nameplate capacity is up to 10 tons of gold per annum. This productivity will convert Monterra into the largest project among such factories under construction in Kazakhstan. Geological exploration works took 5 years.
Initiator: Monterra Group AG
Investment: €1.6 billion
Timeframe: 2021 – 2023

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