03 June 2004 05:26
Norilsk Nickel to more than double gold production by 2010 (Part 2)
Norilsk Nickel produced 1.139 million oz of gold in 2003.
Yevgeny Ivanov, president of Polyus, said in a report for the
MOSCOW. June 3 (Interfax) - Norilsk Nickel will more than double gold mine output from an anticipated 1.088 million
ounces in 2004 to 2.481 million ounces in 2010, a report by the head of Polyus, a gold producing subsidiary of the
Arctic mining and smelting giant, said.
Gold production will be 2.481 million oz in 2010 unless Norilsk
Nickel receives the license to the Sukhoi Log field, in which case
Precious Metals Forum that Norilsk Nickel's gold mining subsidiaries Polyus, Lenzoloto and Rudnik im. Matrosova
would produce 1.143 million oz of gold in 2005, 1.154 million oz in 2006, 1.339 million oz in 2007, 1.891 million oz in
2008 and 2.281 million oz in 2009.
production will hit 3.6 million oz that year, Ivanov said.
Norilsk Nickel is already the world's ninth biggest gold producer. "If the unthinkable happens and we
don't acquire new licenses, we will still be the world's seventh biggest producer by 2010," Ivanov said.
If the company receives Sukhoi Log, it will be the world's fourth biggest company in terms of gold reserves and 7th
biggest by production, he said. [RU ASIA EUROPE EEU EMRG MER RESF CORA GDM GOL] pr
[Interfax] |
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