In its Q3 results, Russian gold mining leader Polyus reports that at Olimpiada, on a year on year basis, refined gold production and total gold output increased 7% and 2%, respectively. Total gold output (refined and concentrate) grew by 3% compared to the previous quarter, to 350,000 oz, driven by higher production volumes of gold contained in concentrate, increased ore processed
volumes and improved recoveries.
From a mining works point of view, volumes of rock moved totalled 33.234 Mt for the quarter, a 12% increase on the second quarter of 2018. Polyus continued upgrading its mining fleet at Olimpiada in the reporting period. The company delivered two Komatsu bulldozers and two large wheel loaders to the site. In addition, the company commissioned two TYHI WK-35 shovels. Four WK-35 shovels and 34 Cat 793 trucks with capacity of 220 t are currently operating on site, contributing to the higher volumes of rock moved.
Volumes of ore mined rose to 5.884 Mt, from 3.698 Mt in the previous quarter. In line with the mining plan, Polyus intensified mining activities at low-grade flanks of the Vostochny pit, which resulted in a 14% decline in average grades, to 3.48 g/t from 4.04 g/t in the second quarter of 2018.
Volumes of ore processed totalled 3.365 Mt, remaining almost flat compared to the previous quarter. This reflects the sequence of maintenance works, with Mill-3 undergoing a scheduled maintenance in August. The average grades in ore processed at Olimpiada remained almost in line with the average grades in the second quarter of 2018, at 4.12 g/t.
Polyus’ technical team is proceeding with optimisation of the processing parameters at Mill-1. Installation of turboelevators drove a 6% increase in hourly throughput of Mill-1, compared to the previous quarter. Recovery rate increased to 79.2% reflecting lower gold losses with flotation tailings. Polyus expects recovery rates to increase going forward as the company proceeds with operational initiatives targeting recovery improvement, including the launch of the alkaline leaching circuit and flash flotation. Volumes of antimony contained in flotation concentrate amounted to 6,400 t, a 3% increase on the previous quarter.
