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Kazakhstan

Varvara hub Operation

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Categories

Overview

Mine TypeOpen Pit
StatusActive
Commodities
  • Gold
  • Copper
Mining Method
  • Truck & Shovel / Loader
  • Dragline
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SnapshotVarvara hub Operation includes Komar and Varvara as operating mines; Elevator and Baksy as exploration projects.
Related AssetsKomar Mine, Varvara Mine

Owners

SourceSource
CompanyInterestOwnership
Polymetal International plc 100 % Indirect
Polymetal International plc holds Varvara through its 100% subsidiary Varvarinskoye JSC and Komar through its 100% subsidiary Komarovskoye Mining Company LLC.

Deposit type

  • Skarn
  • Contact-metasomatic

Summary:

The mineralized bodies at Varvarinskoye are classic gold-copper skarn types that are primarily contained within the eastern side of the local fault and are associated with the border between geological formations. Copper-gold porphyry is overlaid with quartz-sulphide gold veins and scarn to produce very complex and geometrically complicated zones of economic mineralisation. Mineralisation is discontinuous over a strike length of 4 km and is divided into five zones.

The main primary copper mineral is chalcopyrite with some bornite. The gold is mostly in free form and associated with pyrites and other sulphides. A hallow oxidation zone occurs within 10 to 50 m below the surface. In this part of the Varvara deposit, copper is mostly represented by oxide minerals not amenable to conventional flotation.

Based on mineralogy and metallurgical characteristics, all mineralisation is divided into four types based on the degree of oxidation and copper grade:

1. primary gold (copper less than 0.2 per cent.);
2. primary copper (with gold present);
3. oxide gold (copper less than 0.1 per cent.);
4. oxide copper (with gold present).

Types 1 and 3 are processed through the leaching circuit and are known as leach ore. Type 2 is processed through the flotation circuit and is known as float ore. Type 4 is currently stockpiled separately and not processed.

Komarovskoye is a low-sulphide quartz gold deposit located along the contact of the granite intrusion. Mineralisation occurs within the fault zone and consists of steeply dipping quartz-carbonate-micaceous metasomatites hosted by schists. The overall strike length of Komarovskoye is approximately 6,800m with individual mineralised zones generally 500-600m in length, 4-6m in width. Oxidation depth is limited to 30-50m below surface.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnits202220212020201920182017
Gold Metal in concentrate koz  ....  Subscribe  ....  Subscribe  ....  Subscribe13129.2
Gold Metal in doré koz  ....  Subscribe  ....  Subscribe  ....  Subscribe123118114
Gold Metal in conc./ doré koz  ....  Subscribe  ....  Subscribe  ....  Subscribe137130123
Gold Equivalent Metal in conc./ doré koz 149142130

Operational metrics

Metrics20222021202020192018
Annual processing capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe4.2 Mt4 Mt
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe3,943 kt3,139 kt
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe45.4 Mt28.7 Mt
Tonnes processed  ....  Subscribe  ....  Subscribe  ....  Subscribe3,550 kt3,534 kt

Production Costs

CommodityUnits202220212020201920182017
Total cash costs Gold Equivalent USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 723 / oz   688 / oz   701 / oz  
All-in sustaining costs (AISC) Gold Equivalent USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,064 / oz   940 / oz   952 / oz  

Financials

Units202220212020201920182017
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 33   38   19  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 203   178   154  
EBITDA M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 93   77   68  

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 8, 2023
....................... Subscription required ....................... Subscription required Subscription required Aug 8, 2023

EmployeesYear
...... Subscription required 2022
...... Subscription required 2021
...... Subscription required 2020
...... Subscription required 2019
...... Subscription required 2018

Aerial view:

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