Russia’s Polyus big step closer to building world’s largest new gold mine

Mining.comreports thatRussian gold miner Polyus on Thursday provided an update on its Sukhoi Log project, one of the world’s largest untapped gold deposits. The news sent units of the company trading over the counter in the US up 3% for a market value of some .5 billion.Polyus in May completed the scoping study and verification drilling  > programme atSukhoi Log, located in the Irkutsk region of eastern Siberia, and is now entering the prefeasibility stage with a study out early 2021.

The Moscow-based company,the world’s 7th largest listed gold producer, said it planned to make a final investment decision on Sukhoi Log, by 2020-2021 with a target for production start-up around 2026.