Voro

Quick facts

Location: Sverdlovsk Region, Central Russia
Mining: open pit
Processing: Carbon-in-pulp, heap leach
Production FY2012: 154.4 Koz of gold and 0.2 Moz of silver
Ore reserves (JORC): 1.4 Moz gold eq. (at an average grade 2.9 g/t) 
Mineral resources (JORC)*: 0.1 Moz gold eq. (at an average grade 1.5 g/t)
Production start date: 2000
Life of mine: 2026
Adj EBITDA FY2012: 174 US$m
Capex FY2012: 11 US$m
TCC FY2012: 559 US$/oz gold

Overview

Voro is one of Polymetal’s key gold assets, contributing stable cash returns. Located in the Russian Urals, it comprises two open-pit mines, Voro and smaller Degtyarkoye, the carbon-in-pulp plant and the heap leach processing facility to accommodate primary ore and oxidised ore processing respectively.

The Voro mine is one of Polymetal’s original assets, acquired in 1998, and so far it is our lowest cost and highest margin mine, contributing approximately 20% to the Group’s total gold equivalent production (2011).

The main objective of the near-mine exploration activities is to increase the resource base and to extend the useful life of the operation, this is carried out at South Voro and Volchanka exploration areas.

Voro feeding sources:

Operating mines

• Voro open-pit gold mine (2000-2026)
• Degtyarskoye open-pit gold mine (2009-2012)

Near mine exploration projects

• South Voro
• Volchanka

Location

Voro is located in the Sverdlovsk region of Russia, approximately 370 km north of the regional centre of Ekaterinburg and 25 km south of the city of Krasnoturinsk which has a population of approximately 65,000 people. There is good access from Ekaterinburg along a federal highway, which passes 7 km from the site. The industrialised and moderately populated area around the deposit is home to several large underground mines. There is a railway connection with a Group-owned spur located 18 km from the site. The site has access to a power grid station.