Natural resources
New Gross Gold Mine to open in Yakutia
© RIA Novosti. Igor Ageenko

New Gross Gold Mine to open in Yakutia

Neryungri Metallik, a subsidiary of the international company Norgold, has acquired the necessary permits to build a new gold mine called the Gross Mine. After approval by the Norgold board of the directors, construction could begin in late 2015-early 2016, the company's press service reports.

In 2014, the mining company began a large-scale geological exploration of the area. On December 31, 2014, the Gross field was estimated at 4.5 mln oz of gold and 8.6 mln oz of other mineral resources.

Experts believe that after the mine reaches its full capacity, it will produce about 12 mln metric tons of ore annually, which will be used to produce some 230,000 ounces of gold each year for as long as 17 years.