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By Trend

International gold mining company Nordgold plans to produce more than 900,000 ounces of gold by the end of this year, the company told Trend.

"The forecast for production in 2018 is 900,000-950,000 ounces," said the message.

It is worth noting that last year, the company, which operates mines in Russia, Kazakhstan, Burkina Faso and Guinea, produced 968,000 ounces of gold.

In September 2018, Nordgold launched the Gross deposit in Yakutia (Russia), which will produce 200,000 ounces of gold per year. This will allow the company for the first time in its history to produce more than one million ounces per year.

For the first three quarters of this year, the production amounted to 675,900 ounces compared to 716,800 ounces for the same period last year (down by 6 percent). In particular, the Suzdal mine in Kazakhstan produced 64,200 ounces of gold against 67,600 ounces in January-September last year.

Nordgold also noted two key development projects: Uryakh in Russia and Montagne d'Or in French Guiana.

The estimated and identified resources of the Uryakh deposit are 1.4 million ounces with a gold content of 3.8 grams per ton. Montagne d'Or resources are 3.85 million ounces with a gold content of 1.41 grams per ton.

Presently Nordgold operates four mines in Russia, one in Kazakhstan, two in Burkina Faso and one in Guinea.

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