Gold mining resumed in Ukraine

 

 The only gold mining enterprise in Ukraine, Muzhiyivsky Zolotorudnyk, has resumed its operations after a 15-year downtime. The explored reserves of the Muzhiyivskoye deposit are estimated at 55 tons of gold, 1 million tons of zinc and lead.

with reference to the press service of the Transcarpathian Regional State Administration.

It is known that the Avellana Gold concentrator works at the field. The total production capacity of the field after launch will be 500 thousand tons of gold ore per year. Initially, the company will process ores left over from gold mining in previous years.

We supported a foreign investor and launched a project to extract gold and polymetals located on the territory of the Muzhiyivka deposit. The last time the company was launched was in 2005, it went bankrupt, so no production processes took place here, - said the head of the Transcarpathian Regional State Administration Oleksiy Petrov.

In addition to gold, the mine will mine zinc ore. The company reports that this metal will be enough to produce 300 thousand batteries a year. This will cover Ukraine's need for zinc imports. Currently, the factory employs more than 30 people. The company will pay more than UAH 250 million in taxes annually.

Avellana Gold started operating in Ukraine in 2016 after acquiring Carpathian Ore Company and Western Geological Exploration Company, which have special permits for mining and exploration of polymetallic ores in Western Ukraine (Muzhiyivske, Berehivske and Kvasivska deposits). The company has already resumed the implementation of the Muzhiyivskoye field development project. The total investment was over $ 150 million.