OREANDA-NEWS. October 30, 2007. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s largest gold producer, today announced an agreement between Aker Kvaerner, a leading global provider of engineering and construction services, technology products and integrated solutions,  for the preparation of a pre-feasibility study for Nezhdaninskoye deposit in the Sakha Republic (Yakutia).

Aker Kvaerner E&C, a division of Aker Kvaerner Canada Inc. (Aker Kvaerner) will retain the services of MICON International Ltd., Met-Chem Canada Inc., and Golder Associates Ltd., to provide specialist expertise in completing the prefeasibility study as subconsultants to Aker Kvaerner.

The pre-feasibility will select the optimal model to develop the deposit, will define the ore processing technology, assess the environmental impact of the project, as well as estimate the capital and operating costs.

General Director of Polyus Gold Evgueni Ivanov said: “The exploration programme carried out at Nezhdaninskoye for the past two years confirmed that the deposit has a significant additional potential and proved that a large-scale mining complex could be developed on it.  That is the reason why we decided to entrust the preparation of the pre-feasibility study to one of the leading firms in the industry, experienced in working with world-class deposits”.

Nezhdaninskoye deposit is located in Tompon district of the Sakha Republic (Yakutia). OJSC Polyus Gold acquired the rights to develop the deposit in 2005-2006. The license holder for Nezhdaninskoye is wholly-owned subsidiary of OJSC Polyus Gold South-Verkhoyansk Mining Company.