Sale of Zun-Holba Mine in Russia
London, United Kingdom, 19 April 2021 — PAO Buryatzoloto (93%-owned by Nord Gold plc, the internationally diversified gold producer), announces that it has signed an agreement with Chesio Limited to sell the mature underground Zun-Holba gold mine, located in the Republic of Buryatia in Russia to Chesio Limited.
Zun-Holba produced 7.3 thousand ounces of gold equivalent produced in 2020. It has been operational for 35 years now (since 1986) and its gold reserves are largely depleted.
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Nordgold is an internationally diversified one million ounce gold producer with about 7,800 people operating a portfolio of nine mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.