OREANDA-NEWS. OJSC Polyus Gold, Russia’s largest gold producer, today announced that the Board of Directors meeting held on February 16th, 2007 had reviewed the report on the year 2006 results, approved the Company’s 2007 budget and business plan.

According to the press service of “Polyus Gold”, the 2007 business-plan of Polyus Gold provides for execution of the following projects:

• Submission of the exploration results for Chertovo Koryto deposit (Irkutsk region) and Titimukhta (Krasnoyarsk region) to the State Reserves Committee (GKZ Rosnedra) seeking a listing of reserves of these deposits by the State;
• Completion of construction and launch of the 3rd mill at Olimpiada deposit in the Krasnoyarsk region;
• Preparation of the pre-feasibility study for Natalka deposit (Magadan region);
• Preparation of the scoping studies to develop Nezhdaninskoye deposit and to expand the production facilities at Kuranakh group of deposits in the Republic of Sakha (Yakutia);
• Carrying out vast cost cutting corporate initiative;
• Streamlining the Company’s exploration business.