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Quick facts

Location Northeast of Magadan, Russia
Mining Underground
Processing 1600 Ktpa concentrator
400 Ktpa Merrill Crowe plant
Ore reserves (JORC)* 3.7 Moz gold eq. (at an average grade 8.1 g/t)
Mineral resources (JORC)* 2.6 Moz gold eq. (at an average grade 5.2 g/t)
Production start date 2000
Life of mine 2023

FY 2013 Results

Production FY2013 40.6 Koz of gold and 22.1 Moz of silver
Adj EBITDA FY2013 US$ 229 m
Capex FY2013 US$ 37 m
TCC FY2013 US$ 11.6/oz silver equivalent

* SE = silver equivalent. GE = gold equivalent. Ore Reserves and Mineral Resources are in accordance with the JORC Code (2012). Mineral resources are calculated in addition to ore reserves

Overview

The Dukat hub is one of Polymetal’s original assets. It is the third largest silver deposit in the world, the largest primary silver operation in Russia and our flagship operation.
The Dukat hub was created in 2008 by merging the Dukat and Lunnoye operating units located in geographic proximity to each other and sharing many support and auxiliary services. The hub consists of the Omsukchan concentrator which process ore from the Dukat and Goltsovoye mines, and the Lunnoye processing plant which processes ores from the Lunnoye and Arylakh mines, as well as concentrate from the Omsukchan facility. 
Polymetal is also carrying out few near-mine exploration projects with the aim of expanding the hub’s reserve base.
The hub feeding sources:

Operating mines

  • Dukat open pit (2001-2012) and underground gold and silver mine (2012-2021)
  • Lunnoye underground gold and silver mine (2000-2023)
  • Arylakh open pit gold and silver mine (2006-2014) and underground (2013-2020) gold and silver mine
  • Goltsovoye underground silver mine (2011-2020)

Development projects

  • Olcha (since 2015)

Near mine exploration projects

  • Perevalny

Location

The Dukat hub is located in the Magadan region in the Russian Far East. Magadan has an international airport with regular direct flights from Moscow, St. Petersburg and Khabarovsk.

Omsukchan (population of approximately 4,500 people), the location of the Dukat hub’s management and the concentrator facility, is approximately 566 km north-east of the city of Magadan and is connected to Magadan by an unpaved road.

All operating units are located in close proximity to the Omsukchan: Dukat mine (38 km), Goltsovoye mine (80 km), Lunnoye operating unit (172 km) and are accessible by all year-round roads.

Fuel, consumables and spares are delivered to the all-season port of Magadan by regular freight carriers from the Russian ports of Vanino and Nakhodka. As there is no railway system in the region and road transport would be less reliable and more expensive, the principal access to Magadan is by sea. Climatic conditions are severe, with long cold winters and short, occasionally hot, summers. The surrounding area is very sparsely populated and mostly covered with tundra fores

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