Depending on the FID, the company expects to commence production around 2026 with construction capital expenditure estimated to be between $2bn and $2.5bn.
Polyus recently completed the scoping study and verification drilling programme of 43,000m at the gold deposit and is preparing for the pre-feasibility phase.
The study highlighted directions related to additional geological, engineering and infrastructure development.
“While there is a long way to go until the production launch, we are committed to developing the asset in the most disciplined and efficient manner.”
The results of the scoping study indicated mill throughput capacity of 30Mtpa, average annual production of 1.6Moz and aggregate cash cost of $420-$470/oz.
Using conventional gravity/flotation process, the Sukhoi Log processing facility will treat an average of 30Mt of ore a year.
The facility will have two parallel communition lines, each with an annual processing capacity of 15Mt of ore.
Before making the FID, the company will invest around $30m a year to undertake geological and engineering studies at Sukhoi Log .
Measured and indicated mineral resources estimate is slated for the fourth quarter of this year and the company expects to publish proved and probable ore reserves estimate in 2020.