Polymetal has officially launched mining operations at a new deposit in Russia’s Sverdlovsk Region. The first ore was extracted from the Galkinskoye site in late May, marking the start of commercial production at the asset. Development of the project is being carried out by Polymetals of the Northern Urals, a subsidiary of the company.
The deposit is located near the town of Karpinsk. Mining will be conducted using open-pit methods, meaning the ore will be extracted from a surface quarry rather than underground workings. Once the operation reaches full capacity, annual ore production is expected to reach up to 400,000 tonnes. The ore body contains zinc, copper, gold, and silver.
The launch of Galkinskoye represents an important milestone in the development of Polymetal’s Ural production hub. The new asset will help ensure a stable supply of feedstock for the company’s processing facilities and provide ore for its concentrators. The project is also expected to create employment opportunities for mining specialists and generate additional tax revenues for regional budgets.
Total investment in the development of the deposit has exceeded RUB 2.2 billion. The funds were used to construct the open pit, purchase mining equipment, and develop the necessary infrastructure.
The Galkinskoye deposit is becoming a new source of base and precious metals for Polymetal, strengthening the company’s position in the Urals and supporting the long-term utilization of its processing capacity.
Source: @CarierNews
Image: Polymetal
