OREANDA-NEWS. On February 20, 2008 OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, obtained 5 new licence fields for alluvial gold in Bodaibo. The licences were acquired though a number of auctions by ZAO ZDK Lenzoloto, which is a wholly-owned subsidiary of OJSC Polyus Gold, reported the press-centre of Polyus Gold.

The combined reserves potential of the fields is estimated as 1,3 tonnes (42 k oz) of gold.

The licence area of Ruchei Illigiri located 60 km of Bodaibo is 7,4 km. The areas of Nygri River are located 110 km to the North of Bodaibo, the combined licence area of the two fileds is 4 km.

The Licence area of Gromovsky Stream is located 45 km from Bodaibo, the total area is 6,5 km. The area of Tyoply stream (4,6 km) is located 56 km from Bodaibo.

According to the General Director of Polyus Gold Evgueni Ivanov, the company is intending to further increase its alluvial gold production. In 2007 the company produced 5,6 tonnes (180 k oz) of gold from alluvial deposits, compared to 5,3 tonnes (170 k oz) in 2006. “Growing the alluvial mineral resources base is a part of a larger programme to develop alluvial gold production, being implemented by Polyus Gold”.

Polyus Gold is the largest gold producer in Russia. 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). The company produced 1,2 m oz of gold in 2007.