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Ugakhan Mine Comissioning

Comission:

Ugakhan Mine Comissioning

In October 2017, the Ugakhan Mine of the Irkutsk business unit was commissioned. The deposit is located on the territory of the Bodaibo Area of the Irkutsk Region, 25 km west of the Golets Vysochaishy deposit. A proximity of the new mine to the Company's flagship enterprise allowed to accelerate the new mine’s construction and commissioning.

For the second time this year we are smelting a gold bullion in the newly commissioned mine. No other company in our country has ever build gold mining enterprises so quickly within one year. I'm very proud of our team able to solve this extremely complicated and absolutely unique task: construction of a major gold mine in the shortest time. I'm greatful to the shareholders for their trust and to the GV Gold's team for their input.  

German Pikhoya, the CEO of GV Gold in 2017-2019

Implementation of this project was one of the Company’s strategic priorities owing to a significant expected synergy – employment of the current team’s competence, application of the experience accumulated through the exploitation of similar facilities, as well as the use of uniform logistics and maintenance chains.