Polyus Announced Increased Reserves At Far East Mine

Russian big gold producer Polyus, a subsidiary of Norilsk Nickel, revealed on Thursday that a preliminary audit at its Natalkinskoye gold mine, Far East of Russia, had revealed reserves comparable to Eurasia's biggest undeveloped gold deposit, Sukhoi Log.

Polyus, controlled by mining giant Norilsk Nickel, quoted its President Yegveny Ivanov as telling a conference in London earlier this week that the deposit in the Magadan region may have reserves of 29.5 million ounces (918 tons).