OREANDA-NEWS. June 20, 2007. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, announced an agreement with international engineering company Knight Piйsold Consulting to prepare a Feasibility Study for the mining complex on Natalka deposit in the Magadan region. The license holder for Natalka is OJSC Matrosov Mine, a subsidiary of OJSC Polyus Gold.

The Pre-Feasibility Study for the project will be prepared within the coming six months in consultation with the engineers of Knight Piйsold Consulting. The bankable Feasibility Study preparation will commence at the same time and will take approximately 18 months. The results of the ore tests conducted by McClelland Laboratories in 2006 will be used for the Feasibility.

Commenting on the event, CEO of Polyus Gold Pavel Skitovich said: “The construction of a new mine at the giant Natalka deposit is a major investment project of Polyus Gold. The involvement of international experts in the project is a guarantee that this large scale mining complex will be constructed in compliance with the highest industry standards and the most state-of-the-art technologies will be applied”.