Artel Starateley "Amur"

The Kondyor Massif lays in the Russian Far East, roughly 1100 km north from Khabarovsk, in Khabarovsk Krai, a federal subject of Russia. The Kondyor Massif is huge, eight kilometres in diameter. It is an important source of platinum and is the site of massive Russian platinum mine. Since PGM production commenced at Kondyor in 1984 to 2011, the Kondyor mine has produced about 3 million ounces of platinum. Over the last ten years average platinum production at Kondyor was about 120 koz per annum. In 2011, Kondyor produced 121 336 ounces of platinum and over 2 700 ounces of other PGMs.

The deposit was acquired by the current shareholders in 2007 as part of OJSC “Artel Starateley “Amur” (AS “Amur”) which was formed in 1968 and is one of the largest enterprises in Russia for the extraction of precious and PGM metals and its headquarter is situated in Khabarovsk, Russian Far East.

Since then the company has substantially increased proved and probable platinum reserves at Kondyor, undertaken considerable renovations of the mining fleet and disposed of non-core assets.

Russian Platinum conducts open pit mining at the Kondyor alluvial deposit. There are four key stages of production from mine to end product:

- pre-stripping and production blocks preparation (these works are performed mainly from October to May prior to the platinum production season, which is limited due to the cold winter temperatures in the Khabarovsk region);

- platinum material excavation and initial concentration;

- final stage of concentration and placer platinum production (on-site);

- refined platinum production (at refinery plant).