En Ru Glossary Sitemap Contact us ABOUT US OPERATIONS SUSTAINABLE DEVELOPMENT INVESTORS & MEDIA CAREERS Main pageInvestors & Media news NEWS RESULTS & REPORTS PRESENTATIONS SHAREHOLDER CENTRE CORPORATE GOVERNANCE MEDIA LIBRARY GLOSSARY CONTACTS DIVIDENDS Nordgold Completes Phase 1 of Gross Mine Expansion Project Nordgold launched the heap leach Gross mine in September 2018, the third new mine developed and launched by Nordgold since 2013 The Gross region in Yakutia, Russia, is a world class mining region with high development potential, with one of the lowest expected cost profiles in the CIS Gross mine mining and processing capacity increased from 16 mtpa to 18 mtpa from September 2021 London, United Kingdom, 29 September 2021 - Nord Gold plc («Nordgold» or the «Company»), the internationally diversified gold producer, is pleased to announce it has completed Phase 1 of the expansion of mining and processing capacity of its largest mine, the flagship Gross mine (Yakutia, Russia) to 18 million tonnes of ore per year (mtpa), up from 16.0 million tonnes of ore processed in 2020. Nordgold has successfully built an established position in the world class, highly prospective Gross Region, which includes Gross, as well as the Taborny mine and the Tokko development project. Launched in 2018 with the nameplate capacity of 12 mtpa, the Gross mine has developed quickly to become Nordgold’s largest mine, and one of the largest gold mining operations in Sakha Republic. The total capital expenditure on the Phase 1 of Gross expansion was approximately US$50 million, 15% lower than initially planned, again highlighting Nordgold’s track record of completing major development projects in line with, or below budget. Capex savings were achieved due to innovative engineering decisions, construction materials costs optimisation and lower than planned mining fleet cost. The Phase 1 expansion consisted of: the installation of additional processing equipment including a new 22-meter stacker, three adsorption columns, five new pumps and all associated infrastructure and services; an increase in the mining fleet with the addition of 10 new mine trucks, one excavator and two drilling rigs and a number of auxiliary vehicles, including buses, fuel trucks, mobile repair units, a crane truck and a front loader; and the expansion of auxiliary infrastructure, including new camp facilities and laboratory equipment. Work on the feasibility study for the Gross Phase 2 expansion project to increase mining capacity to 26 mtpa is on schedule and expected to be completed by the end of 2021. The production expansion at Gross is anticipated to add approximately 130 thousand ounces of gold production annually once Phase 2 is completed in early 2024, thereby increasing the Gross mine annual production to approximately 350 thousand ounces. In addition, Nordgold continues development of the new Tokko project, adjacent to the Gross mine. It is expected that the project Feasibility Study will be completed by the end of 2021, with construction beginning in 2022. As a result, by 2025 the Gross Region will contribute over 50% of Nordgold’s production. Nordgold has ambitious growth plans and is targeting approximately 20% production growth and a 20% improvement in AISC over the next five years, primarily as a result of the development of the Gross Region along with lower costs at its African mines. Nikolai Zelenski, Nordgold CEO, said: «I am delighted to report we have completed Phase 1 of our ambitious Gross expansion project. Once again, I would like to send my congratulations to the team on the ground who continue to beat expectations by bringing this project in on time and ahead of budget. The success of Phase 1 and a growing reserve footprint of Gross gives us confidence in delivering Phase 2, which will see further growth from this world class mining asset. Our position in the Gross region is a key point of difference for Nordgold — the region is a low cost, low risk, high quality region and in Tokko, we are primed to deliver on yet another first class new development opportunity. Once Tokko is complete, the Gross region will account for over 600 thousand ounces of annual production, which in turn will provide major cost benefits to the overall Group.» Please find the complete text of announcement in the attached PDF. Nordgold Evgeny Belov Head of Investor Relations eb@nordgold.com Olga Ulyeva Head of Corporate Communications olga.ulyeva@nordgold.com Powerscourt Peter Ogden Tel: +44 (0) 20 7250 1446 PRESS RELEASE PDF, 62.60 KB CONTACTS Procurement Department Corporate Communications Human Resources Sustainable Development Full list Go up ABOUT US Mission & Big idea Vision & Values Strategy Leadership Geography History Contact us OPERATIONS Production Development and Exploration projects Reserves and Resources SUSTAINABLE DEVELOPMENT Our approach Our cases Health and Safety Environment Society Employees Reports & Policies INVESTORS & MEDIA News Results & Reports Presentations Shareholder Centre Corporate Governance Media Library Glossary Contacts Dividends FOR SUPPLIERS © 2021 Nordgold Accessibility policy Disclaimer Privacy policy Site by CreativePeople We use Cookies to make your visit to our site as convenient as possible. 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