Quick facts
Location: the Khabarovsk territory, Russia
Mining: open pit
Processing: 1500 Ktpa flotation concentrator
Production FY2012: 63.5 koz of gold (77.5 koz of gold Albazino and Amursk POX)
Ore reserves (JORC): 1.8 Moz gold eq. (at an average grade 4.3 g/t)
Mineral resources (JORC)*: 3.7 Moz gold eq. (at an average grade 4.6 g/t)
Production start date: 2011
Life of mine: 2022
Adj EBITDA FY2012: 35 US$m
Capex FY2012: 79 US$m (including Amursk POX)
TCC FY2012: 767 US$/oz gold
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Overview
Albazino is an important part of the Group’s largest project – the Amursk POX hub and the first greenfield mine in our portfolio since 2004.
It is a remote deposit located approximately 440 km from the Amursk plant. It comprises operating high-grade gold open-pit mine and a 1.5 Mtpa on-site flotation concentrator started up in April 2011. Albazino is also an attractive exploration area with the non-JORC mineral potential currently estimated at 2-3 Moz of gold (in addition to 5.7 Moz of JORC-compliant reserves and resource). Ongoing exploration works at Olga, Nadezhda, Anfisa and Ekaterina-2 ore fields are expected to yield an increase in resource potential.
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Location
Albazino is located in the Polina Osipenko district of the Khabarovsk territory, in a remote area covered with taiga forest, approximately 780 km north-east of Khabarovsk and 440 km from Amursk. The nearest settlement, Kherpuchi (with a population of approximately 1,500 people), is located 114 km east from the project area and is connected with Albazino by a year-round unpaved road built by the Group between 2008 and 2009.
The river port of Oglongi (with a population of approximately 1,000 people) is located 6 km from Kherpuchi on the Amgun River and connects Oglongi with the ports of Nikolaevsk-on-Amur (approximately 180 km) and Amursk (approximately 600 km).
Road transportation is year-round, but the barging operation is restricted to a six-month window when the river is ice-free.
Due to its remote location, electricity is generated on-site by diesel-powered generators.
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* Mineral resources are in addition to ore reserves
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