LSE: 676.80 -0.91% MOEX: 565.80 -1.60% GOLD: $ 1,303.50 -0.10% Поиск RU Main page Our Assets Where we operate Kapan KAPAN Our first Armenian operation QUICK FACTS Location Kapan province, Armenia Ownership 100% Mining underground Processing 750 Ktpa flotation + offtake Reserves (JORC) 0.7 Moz GE, 4.2 g/t average grade Resources (JORC) 1.9 Moz GE, 5.9 g/t average grade Production start date 2003 (operated by Polymetal since 2016) Employees 1,043 Key 2017 numbers 16.9 km Underground development 530 Kt Ore processed 50 Koz Production (GE) OVERVIEW The Kapan mine was acquired by Polymetal in 2016, making it our first operating asset in Armenia. With a low acquisition price and significant potential for operational turnaround and implementation of our hub-based strategy, Kapan represents an excellent entry point into a geologically attractive and politically stable region. The asset comprises a fully mechanised underground mine with a current capacity of approximately 400 ktpa, the Lichkvaz deposit, a conventional 750 ktpa flotation concentrator and various infrastructure facilities. The operation produces gold-copper-silver and zinc concentrates sold to international markets and is expected to contribute more than 100 Koz of GE per year once it is fully ramped up. Since its acquisition, several improvement measures are being implemented in order to debottleneck the underground mine and improve concentrator utilization to 650 ktpa by 2H 2017 and to 900 ktpa by 2H 2018 (including feed from Lichkvaz). In addition, various integration activities and modifications to operating practices are being put in place and include changes to the motivation system, productivity gap analysis, as well as targeted in-fill drilling. LOCATION HISTORY GEOLOGY AND MINERALISATION OPERATIONS RESERVES AND RESOURCES EXPLORATION The mine is located in the town of Kapan (population of 40,000) in a well-developed mining area in the south-eastern corner of Armenia, approximately 320 km south of the capital city of Yerevan. The town is on the national road network with stable grid access. The area surrounding the operation hosts a number of other prospective deposits, including the 100%-owned high-grade Lichkvaz gold deposit located approximately 70 km from Kapan and 380 km from Yerevan. © 2018 Polymetal International plc Terms and conditions Glossary Sitemap Contacts