en.Wedoany.com Reported - Kolyma Mining Company plans to produce 10.5 tons of gold annually. The first phase of mineral resource development for the project has commenced, targeting an annual gold production of 10.5 tons, expected to begin in 2028. In June, Kolyma-West Company submitted a feasibility study report on "Gold-Antimony Mining at the Krylovskoye Deposit under the Mineral Resource Utilization License. Phase 1 Mining."

According to an assessment by OVK Finance, the deposit's gold reserves exceed 710 tons. During the designed mining period (2027-2032), the plan is to extract 47 tons of gold, processing 51,195 tons of ore and 8,209 tons of tailings. Kolyma-West Company is expected to begin mining in 2027 and reach an annual production level of 10.5 tons of gold by 2028.

The second phase of development plans to expand the annual ore processing capacity to 11,545 tons, ultimately achieving an annual gold production of 2,032 kilograms. The total investment for the project will be determined based on the design documentation.

Kolyma-West Company's annual gold production will be determined by the project's capacity and ore grade.

According to a summary from the Russian State Commission on Mineral Resources, the deposit is located in Magadan Oblast, approximately 30 kilometers from the regional capital. As of January 1, 2025, the deposit's C1+C2 category gold reserves amount to 112,654 tons of ore, containing 122,833 kilograms of gold and 197.7 tons of silver; off-balance reserves total 18,533 tons of ore, containing 20,693 kilograms of gold and 27 tons of silver. According to Kolyma-West Company, the deposit (License No. 11545) has been under development since 2003.

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