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Nordgold to sell its Zun-Holba mine in Russia

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(Kitco News) - Senior gold miner Nordgold announced that it has signed an agreement with Chesio Limited to sell the mature underground Zun-Holba gold mine, located in the Republic of Buryatia in Russia to Chesio Limited.

The company said that Zun-Holba produced 7.3 thousand ounces of gold equivalent in 2020. It has been operational for 35 years now (since 1986) and its gold reserves are largely depleted.

Nordgold is an internationally diversified one-million-ounce gold producer with about 7,800 people operating a portfolio of nine mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.

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