Polyus Krasnoyarsk, a subsidiary of the Russian gold miner PJSC Polyus, has closed a deal to sell the Lenzoloto company to a group of investors from Russia.
Lenzoloto is developing a number of gold placer deposits in the Bodaibinsky district of the Irkutsk region. In 2023, the company produced 103,000 ounces of refined gold.
“This transaction is the next stage in the implementation of our operating strategy and will allow us to concentrate our efforts on the development of Polyus’ largest open-pit gold mining projects. This is especially relevant now, in connection with the planned start of development of the Sukhoi Log project,” said Polyus CEO Alexey Vostokov.
The Sukhoi Log deposit, located in the Bodaibinsky district of the Irkutsk region, is one of the largest undeveloped gold deposits in the world, the company reports. Reserves amount to 40 million ounces of gold at a grade of 2.3 g/t, and resources are estimated at 67 million ounces. Currently, Polyus is preparing a feasibility study for the project.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
