The Rosnedra State Commission on Solid Mineral Reserves has officially confirmed that gold reserves of more than 100 tons have been discovered at the Rosatom deposit called Sovinoye. This was announced by Atomredmetzoloto (ARMZ), a mining division of the state corporation. These are the largest gold reserves discovered in Russia since 1991 at a single deposit.
The license for the development of this field belongs to the structure of the Elkonsky MMC company, which is part of ARMZ. According to the company's plan, the construction and launch of the enrichment plant at the Sovin field will be completed by the end of 2028. ARMZ designates an annual gold production of 3 tons for this project. The company plans to reach its planned production capacity as early as 2029.
The Sovinoye deposit is located in the northern part of the Chukotka Autonomous Okrug off the coast of the Chukchi Sea. It was discovered in the 1970s and is an integral part of the Pilkhinkul-Ryveemsky gold-bearing node, which includes more than 30 placer gold deposits and three ore fields.
To create a mining cluster based on the Sovinoye deposit and the Ryveem and Dor ore fields, the mining division of Rosatom has already invested more than 1 billion rubles. This project provides for the creation of a production complex for the extraction and processing of gold-bearing ores with the production of highly liquid products such as gold bars.