Montagne d'Or intends to launch public consultation with its stakeholders in Q4 2017

London, United Kingdom, 15 August 2017 - Montagne d'Or (the “Company”), owner of the Montagne d’Or mining project (the “Project”) in French Guiana, announces its intention to start a public consultation during the fourth quarter of 2017. The objective will be to gather feedback from all stakeholders involved in the project to ensure transparency and collaboration.

The consultation will aim to provide clear and precise information on the Project in particular on the 3,750 direct, indirect and induced jobs, the €350 million in economic benefits through taxation and the training programs for mine trades Industrial plant in Cayenne and Saint-Laurent.

The Company is fully committed to protecting the natural environment of the site and preserving local biodiversity. In particular, the entire water treatment process will respect the treatment and reuse process provided for in the closed circuit project; geomembrane systems will prevent the infiltration of stored products into soil or groundwater; and Cyanide will be used in accordance with the rules set by the International Cyanide Managent Code with residual cyanide destroyed by cyanide detox circuit in the plant.

Montagne d'Or is endeavoring to develop a modern model of mining on site; one that is exemplary in terms of social, economic and environmental management. This program will serve as a benchmark in the sector in terms of industrial excellence.

Montagne d'Or voluntarily engaged with the National Commission for Public Debate (CNDP) in June 2017, with a view to obtaining prior consultation with the support of a guarantor of the CNDP, in compliance with local law. On 5 July, the CNDP considered the application to be inadmissible "in the current state of the content".

Montagne d'Or is now fulfilling its commitment to hold a public consultation that:

  • provides the Guyanese public with clear and precise information on the Montagne d'Or project;
  • allows for all forms of debate and takes account of local constraints;
  • mobilises local stakeholders to engage in constructive dialogue on issues important to the Montagne d'Or project and its anchoring in the territory of French Guiana.
  • Information on the project is already available to the public via the website www.montagnedor.fr.

    About Montagne d'Or

    Montagne d'Or is an industrial gold mine project in Guyana, designed according to a responsible social and economic and environmental approach. Its stakes are multiple: economic opportunities and the creation of thousands of jobs for the territory, training courses for the trades of the modern industrial mine, rigorous environmental management and dialogue with all the local actors. It is owned by Mining Company Montagne d'Or, a company registered in Guyana with 21 permanent employees.

    The Montagne d'Or gold deposit is located 125 km per track from Saint-Laurent du Maroni, more than 50 km from the nearest residence and in an area authorized for mining by Guyana's Mining Blueprint Departmental Program.

    With a compact design of 8km², the open pit mine will use an efficient process of gold recovery by cyanidation in a closed circuit. The environmental and social impact study will be available in Q4 2017. Following the filing of the regulatory files, and once all the authorizations have been obtained, construction of the mine should begin around 2019 for an opening in 2022.

    About Nordgold

    Nordgold is an internationally diversified gold producer established in 2007. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The Company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cashflows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2016, Nordgold produced 869 koz of gold.

    Nordgold operates 9 mines (4 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan). It has one project in construction phase (Gross in Russia), several prospective projects and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.

    For further information, please contact:

    Nordgold
    Anastasia Shatskaya
    Head of Media Relations
    Tel: +7 495 644 4473
    Powerscourt
    Peter Ogden
    Giles Read
    Tel: +44 (0) 20 7250 1446
    Press release
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CONTACTS

Anastasia Shatskaya

Acting Head of Media Relations
tel.+7 495 644 44 73 #707 6697

Irina Dormidontova

RECRUITMENT MANAGER
tel.+7 495 644 44 73

OLEG BAZALEEV

HEAD OF SUSTAINABLE DEVELOPMENT PROJECTS
tel.+7 495 644 4473 #707 6746