OREANDA-NEWS. On October 29, 2007 OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s largest gold producer, announced an agreement between Aker Kvaerner, a leading global provider of engineering and construction services, technology products and integrated solutions,  for the preparation of a pre-feasibility study for Nezhdaninskoye deposit in the Sakha Republic (Yakutia), reported the press-centre of Polyus Gold.

Aker Kvaerner E&C, a division of Aker Kvaerner Canada Inc. (Aker Kvaerner) will retain the services of MICON International Ltd., Met-Chem Canada Inc., and Golder Associates Ltd., to provide specialist expertise in completing the prefeasibility study as subconsultants to Aker Kvaerner.

The pre-feasibility will select the optimal model to develop the deposit, will define the ore processing technology, assess the environmental impact of the project, as well as estimate the capital and operating costs.

General Director of Polyus Gold Evgueni Ivanov said: “The exploration programme carried out at Nezhdaninskoye for the past two years confirmed that the deposit has a significant additional potential and proved that a large-scale mining complex could be developed on it.  That is the reason why we decided to entrust the preparation of the pre-feasibility study to one of the leading firms in the industry, experienced in working with world-class deposits”.

Nezhdaninskoye deposit is located in Tompon district of the Sakha Republic (Yakutia). OJSC Polyus Gold acquired the rights to develop the deposit in 2005-2006. The license holder for Nezhdaninskoye is wholly-owned subsidiary of OJSC Polyus Gold South-Verkhoyansk Mining Company.

Note for editors:
Polyus Gold is the largest gold producer in Russia. In 2006 its gold output totaled 1,2 million ounces. Headquartered in Moscow, Polyus Gold’s operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia).

Aker Kvaerner is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. Aker Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 24 000 people in about 30 countries.