Polymetal, which is set to be renamed Solidcore Resources shortly, wants to double its gold production to one million ounces by 2029. The company is also going to invest $800 million in the construction of Irtysh GMK (mining and metallurgic company), Polymetal said in a presentation during Investor’s Day.
The Irtysh GMK is going to be located in the vicinity of the town of Pavlodar. The $800 million factory is expected to be fully operational in the first half of 2028. Once commissioned, it will be producing about 15 tons of gold per year for more than 30 years.
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