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Polymetal Sets 2011 Targets

MAGADAN — Polymetal plans to invest at least $10 million exploring fields in the Magadan region this year, Vitaly Nesis, head of the gold and silver miner, said Tuesday.

“We’re planning more than 50 kilometers of exploratory drilling. Major sites include the Rogovik mineralization in the Srednekansk district and the Krasin deposit in the Omsukchansk district. We’ll continue follow-up exploration at Goltsovoye,” he said.

The recovery plant at Polymetal’s Kubaka field will start to process 810,000 tons of gold and sliver ore toward the end of the summer. Polymetal also plans to invest $23 million in exploration in the Khabarovsk region. 

(Interfax)

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