Yakutsk Gas Processing Complex (YAGPK)

History

2024: Nordgold bought YAGPK

Nordgold, through its subsidiary Nordgold Development LLC, acquired Yakutsk Gas Processing Complex LLC (YAGPK), which owns licenses for the extraction of polymetals in Yakutia. This transaction was recorded in the Unified State Register of Legal Entities (Unified State Register of Legal Entities) on July 9, 2024.

According to the Nordgold press service, Yakutsk Gas Processing Complex LLC has the rights to develop a "relatively small polymetallic greenfield project" in Yakutia, a region that the company considers one of the priorities for its activities in Russia. In the coming years, Nordgold plans to focus on analyzing the available geological information and conducting exploration work at this field.

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Yakutsk Gas Processing Complex LLC was founded in 2017 by the Yakutsk Fuel and Energy Company (YATEK) to implement a project for the construction of a methanol plant in Yakutia. However, after the change of ownership, YATEK abandoned these plans. In 2021, YAGPK received two licenses for the development of subsoil areas: for the extraction of polymetallic ores at the Sardana deposit and for the extraction of lead-zinc ores and silver within the Sardan ore node. The validity of licenses is set until 2030 and 2036, respectively.

Nordgold, the beneficiary of which is Alexey Mordashov, is one of the ten largest gold mining companies in Russia. In addition to Russian assets, the group owns businesses in Kazakhstan, Guinea and Burkina Faso. The company is actively developing its activities in Yakutia. So, in 2018, geologists of the Neryungri Nordgold mine discovered the Vysokoe gold deposit with an area of ​ ​ 3.6 thousand square meters in the Olekminsky district of Yakutia. The total reserves of Vysokoy were estimated at 2.15 tons of gold with an average precious metal content of 1.3 grams per ton.^[1]

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