Bloomberg News

Polyus Gold Plans $8.7 Billion Spending by 2020

October 05, 2011

(Corrects title to chief operating officer in first paragraph.)

Oct. 5 (Bloomberg) -- Polyus Gold International Ltd., Russia’s largest gold miner, plans to spend $8.7 billion by 2020 on increasing production, Chief Operating Officer James Nieuwenhuys said.

Polyus Gold targets spending of $4.7 billion to double output to 2.8 million ounces by 2015, and the rest of the investment to reach 4.4 million ounces of production by 2020, Nieuwenhuys said at the Minex Russia conference in Moscow today.

--Editor:

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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