Sarylah, Sentachan deposits to stand the test in 2009

On January 22, 2009 the President of the Republic of Sakha (Yakutia) Vyacheslav Shtyrov held a meeting on GeoProMining CJSC's projects implemented in East Yakutia.

GeoProMining CJSC's first executive vice president for technical policy Roman Khudoley presented the report. He noted that in 2008 deposits in Sarylah and Sentachan had being developed undergroundly by OJSC «Sarylah Antimony» and JSC «Zvezda». The listed companies specialize in the extraction of gold-antimony ores, production and marketing of flotation concentrate with the contents of more than 60% of antimony and gold.

The gold-antimony deposit "Sarylah" is located 65 kilometers south-west of Ust Nera, Oymyakonsky ulus. The gold-antimony deposit "Sentachan" is in the north-east of Yakutia between the upper courses of Jana and Indigirka rivers.

According to R. Khudoley, in the past year the results of the company's mining and manufacturing activities look disappointing. Sentachan gave 10,000 tons of antimony, Sarylah» 3,000 tons. The plant «Sarylahskaya» processed 4800 tons of ore, produced 1500 tons of concentrate, 80.3 kg of gold, including 68 kg of gravel gold.

The financial crisis had the negative impact on the world antimony market, noted R. Khudoley. Europe, America and Asia reduced antimony products consumption in 3 times. As a result, GeoProMining CJSC's activity plan for 2009 was adjusted. This year the company is expected to mine 8000 tons of antimony in Sentachan, and 6000 tons in Sarylah. The processing plant «Sarylahskaya» will be temporarily suspended.

Antimony market will be stagnated throughout 2009, said R. Khudoley. The company plans to create a strong industrial cluster in Oymyakonsky ulus by acquiring licenses and developing new fields of unallocated fund in the area of Sarylah Plant. The plant will be reconstructed, and its equipment to be modernized.

Summing up the meeting, Vyacheslav Shtyrov noted that 2009 would appeared to be very difficult to GeoProMining and the company needs, first, to endure the hard year and return then gradually to the previous production capacity.

// Jan. 22, 2009

Resource: YSIA