Kubaka Gold-Silver Concentrator
Russia /
Magadan /
Evensk /
World
/ Russia
/ Magadan
/ Evensk
, 199 km from center (Эвенск)
World / Russia / Maga Buryatdan
gold mine
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A Gold-Silver Concentrator in Russia owned by Polymetal. Omolon hub is a regional processing center in the Magadan Region consisting of the Birkachan, Oroch, Sopka Kvartsevaya, Tsokol, Kubaka and Dalniy gold and silver deposits, and the ore processing centre at the Kubaka plant.
In 2008 the Company acquired the Kubaka deposit, together with the adjacent plant with an annual processing capacity of 850 thousand tonnes of ore from Kinross Gold Corporation. Following the acquisition the Company focused on exploration at the Birkachan and Oroch deposits, which are the closest to the processing facility and had most potential for exploration and development. In 2008-2009, extensive additional exploration was conducted at these deposits with the aim to determine whether the resumption of the plant operation would be commercially justified. The scope of the drilling conducted was over 11 thousand metres.
In April 2009, Polymetal acquired the Sopka Kvartsevaya deposit (180 km from the Kubaka processing plant), a significant source of high grade mineral resources for the Kubaka plant. The Sopka deposit also allows to further consolidate neighbouring licensed areas and unique transport infrastructure in the east of the Magadan Region, achieving synergies at the Kubaka plant with a significant production volume at low capital and operating costs, as well as converting the Kubaka plant into a regional processing hub with multiple sources of mineral resources and substantial processing flexibility. Mining and ore stockpiling at Sopka started in Q3 2009.
In 2008 the Company acquired the Kubaka deposit, together with the adjacent plant with an annual processing capacity of 850 thousand tonnes of ore from Kinross Gold Corporation. Following the acquisition the Company focused on exploration at the Birkachan and Oroch deposits, which are the closest to the processing facility and had most potential for exploration and development. In 2008-2009, extensive additional exploration was conducted at these deposits with the aim to determine whether the resumption of the plant operation would be commercially justified. The scope of the drilling conducted was over 11 thousand metres.
In April 2009, Polymetal acquired the Sopka Kvartsevaya deposit (180 km from the Kubaka processing plant), a significant source of high grade mineral resources for the Kubaka plant. The Sopka deposit also allows to further consolidate neighbouring licensed areas and unique transport infrastructure in the east of the Magadan Region, achieving synergies at the Kubaka plant with a significant production volume at low capital and operating costs, as well as converting the Kubaka plant into a regional processing hub with multiple sources of mineral resources and substantial processing flexibility. Mining and ore stockpiling at Sopka started in Q3 2009.
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Coordinates: 63°41'7"N 159°58'13"E