Nordgold’s Berezitovy Mine Wins Gold Exploration and Mining Licence in Russia
Amsterdam, Netherlands, February 6, 2015 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, is pleased to announce that the Company’s subsidiary “Berezitovy mine” has won an auction for an exploration and mining licence in the Hayktinskaya gold area in the Amur region in Russia.
The Hayktinskaya area is adjacent to Nordgold’s existing licence areas of the Berezitovy mine and covers an area of 365 km2. The total resource potential of the area is estimated at 46.8 tonnes of gold in P3 Russian classification resources and 393 tonnes of silver.
Berezitovy will pay 4 million roubles (approximately US$60,000) for the licence, which is valid for 20 years.
Nikolai Zelenski, Chief Executive Officer of Nordgold, commented:
The award of the mining licence marks another positive step in Nordgold’s development strategy in Russia, within which we continue to look for geologically promising exploration areas located next to our mines. The Hayktinskaya tenement has a potential to increase the reserves and life of mine of our flagship mine in Russia – Berezitovy.
Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer established in 2007 and publicly traded on the London Stock Exchange. The Company has expanded rapidly through carefully targeted acquisitions and organic growth, achieving a rate of growth unmatched in the industry during that period. In 2014, Nordgold’s gold production increased to 985 koz from 924 koz in 2013.
The Company operates 9 mines and has 2 development projects, 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licenses in Burkina Faso, Guinea, Russia, Kazakhstan, French Guiana and Canada. Nordgold employs about 10,000 people.www.nordgold.com
For further information, please contact:
Head of IR
|Tel: +7 (916) 474 5996|
Head Of Media Relations
|Tel: +7 (916) 510 1411|
|Tel: +44 (0)20 7379 5151|