Russia’s Polyus becomes world’s largest gold miner

MOSCOW — Russia’s largest gold producer Polyus on Thursday said that its total proved and probable ore reserves had risen by 71% to 104-million troy ounces of gold at the end of 2020 due to inclusion of reserves at its giant Sukhoi Log deposit.

“Polyus is now con rmed to have the largest reserve base globally, with approximately 97% of these reserves attributable to our operating mines and our agship green eld project, Sukhoi Log,” Polyus CEO Pavel Grachev said in a statement.

Polyus was previously the world’s third-largest gold miner by reserves behind Newmont and Barrick.

The Russian gold producer plans to take a nal investment decision on the Sukhoi Log project in Siberia in 2022.