Krasnoyarsk Region

Polyus Krasnoyarsk business unit accounts for 75% of Group’s gold output and develops Russia’s largest Olympiada deposit and neighboring Tyrada field. In 2004 these mines yielded 25.33 tons (814 K oz ) of gold.

Olympiada deposit contains both oxidized and sulfide ores. Through the latter type is refractory ore requiring special processing, it makes up some 75% of the deposit. In 2004 only Olympiada produced 1.8 million tons of oxidized and 3.4 million tons of sulfide ore.

Maijor volumes of ore (some 4 million tons per year) come from Vostochny (Eastern) open pit that reached the depth of 300 meters and is 1.2 km in diameter on surface level. Zapadny (Western) open pit of Olympiada deposit and Tyryada open pit split remaining volumes. As the mining works reach lower horizons, extraction of oxidized ore decreases due to its depletion, these volumes are compensated by growing production of the sulfide ore. In the long term, to maintain annual gold output at 25 tons the sulfide ore production will reach 8 million tons per year.

The ore extracted from the open pit is shipped to the processing plant. Oxidized and sulfide ores are processed separately in two different shops with capacities respectively of 1.5 million and 3.0 million tons per year. Olympiada processing plant is the only one in Russia to utilize unique biological oxidation technology. This allows to boost refractory ore gold extraction rate by 20%-35% against conventional technology.

Third shop of ore processing plant with capacity of 5.0 million tons per year is under construction. This facility will be launched in 2007 which to bring plant’s sulfide ore processing total capacity to 8.0 tons per year. At the same time oxidized ore processing shop will switch to ore from Olympiada neighbors, including Titimukhta, Blagodatnoye and Olenii deposits.