Mangazeya to invest $250 million in Sochi gold deposit Mangazeya Zoloto (part of the Mangazeya Mining group) plans to invest over $ 250 million in the development of the Sochi gold ore deposit in the Mogochinsky district of the Trans-Baikal Territory. According to preliminary estimates of the company, the reserves of the deposit that are profitable for development are about 60 tons of gold.
Currently, Mangazeya Zoloto is working on two areas of the deposit - Maleevsky and Surymyany gorka. In 2021, technological tests and reserves assessment are being completed at the Maleevsky block. The area is expected to increase about 40 tons of gold resources and 30–35 tons of reserves that are profitable for development. The calculation of reserves for Antimony Gorka is planned to be completed by mid-2022. The planned increase in profitable reserves for development is 30 tons of gold.
By 2022, Mangazeya Zoloto expects to begin design and survey work to determine the method of mining at two sites. The final product of the mine will be flotation concentrate.
The development of the field is scheduled to begin in 2026–2027.
By the end of this year, the company plans to submit materials for the Maleevsky block to the State Commission for Mineral Reserves, which will allow the reserves to be put on the balance sheet and fulfill the terms of the license agreement with the Committee for Geology and Use of Subsoil of the Chita Region.
It is worth noting that by 2023 Mangazeya Zoloto expects to increase the reserves of its gold ore assets in the Trans-Baikal Territory by at least 100 tons.
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