POLYMETAL INTERNATIONAL PLC KYZYL
3 months ended Mar 31,
% change
2021 2020
MINING
Waste mined, Mt 20.2 19.2 +5%
Ore mined (open-pit), Kt 556 523 +6%
PROCESSING
Ore processed, Kt 563 526 +7%
Gold grade, g/t 6.0 8.0 -26%
Gold recovery 88.8% 87.2% +2%
Concentrate produced, Kt 35 36 -2%
Concentrate gold grade, g/t 85.0 101.4 -16%
Gold in concentrate, Koz1 96 116 -18%
Concentrate shipped, Kt 27 21 +29%
Payable gold shipped, Koz 46 41 +12%
Amursk POX
Concentrate processed, Kt 12 16 -25%
Gold grade, g/t 137.3 135.8 +1%
Gold recovery 92.4% 91.8% +1%
Gold produced, Koz 43 67 -36%
TOTAL PRODUCTION
Gold, Koz 89 109 -18% Note: (1) For information only; not considered as gold produced and therefore not reflected in the table representing total production. It will be included in total production upon shipment to off-taker or dore production at Amursk POX.
(2) To be further processed at Amursk POX.
Mining volumes continued to increase without addition of new equipment as the "Hot Seat" fleet productivity program yielded material results. Grade processed declined towards the open-pit reserve average.
The concentrator delivered record quarterly throughput, while recovery increased by 2 p.p. y-o-y following the debottlenecking of thickening and drying sections. These improvements partially balanced the planned grade decline.
ALBAZINO
3 months ended Mar 31,
% change
2021 2020
MINING
Waste mined, Mt 5.1 4.8 +6%
Underground development, km 3.3 3.1 +6%
Ore mined, Kt 495 517 -4%
Open-pit 308 360 -14%
Underground 187 157 +19%
PROCESSING
Albazino concentrator
Ore processed, Kt 427 445 -4%
Gold grade, g/t 4.3 4.5 -5%
Gold recovery1 88.7% 85.6% +4%
Concentrate produced, Kt 33 36 -9%
Concentrate gold grade, g/t 49.5 48.1 +3%
Gold in concentrate, Koz2 52 56 -6%
Amursk POX
Concentrate processed, Kt 48 46 +6%
Gold grade, g/t 52.8 53.6 -1%
Gold recovery 96.5% 96.4% +0%
Gold produced, Koz 77 78 -1%
TOTAL PRODUCTION
Gold, Koz 77 78 -1% Notes: (1) To concentrate.
(2) For information only; not considered as gold produced and therefore not reflected in the table representing total production. Included in total production after Dore production at the Amursk POX.
Underground mining volumes increased as Ekaterina underground mine ramped up stoping volumes while the new Anfisa underground mine below the main open pit accessed ore.
Open-pit ore mining reduced as the focus shifted to the pre-stripping of the new Farida open pit. The final pushback commenced at the Anfisa open pit.
Recovery at the concentrator improved by 3 p.p. as ore mix shifted to less clayey ores from deeper underground levels.
Construction activities at the Kutyn heap leach project are progressing on schedule with basic site infrastructure and access road completed.
MAYSKOYE
3 months ended Mar 31,
% change
2021 2020
MINING
Waste mined, Mt 0.9 1.1 -12%
Underground development, km 5.1 5.5 -8%
Ore mined, Kt 191 261 -27%
Open-pit 13 78 -84%
Underground 178 183 -3%
PROCESSING
Ore processed, Kt 217 227 -5%
Gold grade, g/t 6.2 5.7 +8%
Gold recovery 92.5% 91.2% +1%
Gold in concentrate, Koz2 40 38 +5%
Gold produced in dore from concentrate (POX), Koz 1 - NA
Gold produced in dore from carbon, Koz3 5 - NA
TOTAL PRODUCTION
Gold, Koz 6 - NA Notes: (1) To concentrate.
(2) For information only; not considered as gold produced and therefore not reflected in the table representing total production. Included in total production upon sale to off-taker or dore production at Amursk POX.
(3) Gold produced from carbon at Amursk POX and Voro.
Open-pit mining of oxidised ore at Zone 1 recommenced with the next pushback enabled by favorable commodity price environment. Processing will start in Q2 2021.
Underground ore grade continued to improve as focus shifted to timely and precise backfill activities needed to limit dilution.
All of the excavations for the new underground material handling system have been completed. The installation of the conveyor frame has commenced. The launch of the system is planned for Q2 2022.
AMURSK POX
3 months ended Mar 31,
% change
2021 2020
Concentrate processed, Kt 60 62 -2%
Albazino 44 41 +9%
Kyzyl 12 16 -25%
Veduga 4 1 +177%
Other1 - 3 -100%
Gold recovery 94.9% 94.2% +1%
Average gold grade, g/t 69.6 74.9 -7%
Average sulphur grade 13.5% 14.2% -5%
Total gold produced2, Koz 121 145 -17%
Albazino 67 60 +13%
Kyzyl 43 67 -36%
Veduga 9 14 -35%
Mayskoye 1 0 +220%
Other1 - 3 -100% Notes: (1) Purchased concentrates which are included in reportable production in the Albazino segment.
(2) For information only. Already accounted for in production at operating mines. Excluding gold produced from Mayskoye loaded carbon.
Amursk POX Q1 gold output decreased by 17% y-o-y to 121 Koz on the back of lower volumes of Kyzyl concentrate introduced into feed relative to high base of 2020. Recovery rate was marginally higher as more Albazino concentrate was processed. VARVARA
3 months ended Mar 31,
% change
2021 2020
MINING
Waste mined, Mt 9.5 10.2 -6%
Ore mined, Kt 1,056 782 +35%
PROCESSING
Leaching
Ore processed, Kt 764 734 +4%
Gold grade, g/t 1.7 1.5 +13%
Gold recovery1 86.4% 87.0% -1%
Gold production (in dore), Koz 46 35 +33%
Flotation
Ore processed, Kt 190 129 +47%
Gold grade, g/t 2.6 3.1 -19%
Recovery1 84.6% 85.7% -1%
Gold in concentrate, Koz 13 9 +54%
Veduga ore toll processed, Kt2 - 30 -100%
Total ore processed, Kt 954 893 +7%
TOTAL PRODUCTION
Gold, Koz 60 43 +37% Note: (1) Technological recovery, includes gold and copper within work-in-progress inventory. Does not include toll-treated ore.
(2) To be further processed at Amursk POX.
Quarterly gold production hit a record 60 Koz driven by high grade leach ore from Komar, higher processed volumes, and significant release of work-in-progress inventory. Total quarterly ore processed was also highest in the concentrator's 13-year operating history.
Flotation circuit grades fell as more own ore was processed compared with the stable quantities of third-party material.
DUKAT OPERATIONS
3 months ended Mar 31,
% change
2021 2020
MINING
Waste mined, Mt 0.4 - NA
Underground development, km 11.7 11.3 +4%
incl. Primorskoye 0.5 - NA
Ore mined, Kt 645 539 +20%
Open-pit 104 - NA
Underground 542 539 +0%
PROCESSING
Omsukchan concentrator
Ore processed, Kt 513 513 -0%
Grade
Gold, g/t 0.5 0.5 -1%
Silver, g/t 252 286 -12%
Recovery1
Gold 83.2% 84.5% -2%
Silver 86.8% 86.0% +1%
Production
Gold, Koz 6 6 +1%
Silver, Moz 3.5 3.9 -10%
Lunnoye plant
Ore processed, Kt 116 116 -0%
Grade
Gold, g/t 1.5 1.5 -2%
Silver, g/t 252 269 -6%
Recovery1
Gold 91.7% 90.7% +1% (MORE TO FOLLOW) Dow Jones Newswires
April 22, 2021 02:01 ET (06:01 GMT)
