Polymetal doubles Veduga reserves to 2.8Moz

Russian gold and silver miner Polymetal has more than doubled the ore reserves at the Veduga gold deposit to 2.8-million ounces, which the company said on Thursday should be helpful for potential acquirers of the asset. The updated reserve estimate comprises 18.9-million tonnes of ore with an average grade of 4.6 g/t, containing 2.8-million ounces of gold. This represents a 111% increase in gold contained.