Polymetal expects to resume exploration in East Tarutain in the first half of 2020.
It has been estimated that the amount of Tarutin reserves to be replaced is 4.6 million tons, copper content is 1.39%, and 0.09 grams of copper per ton of gold is equivalent to 63,700 tons of copper and 333,000 ounces of gold.
East Tarutin is on the same side of the Russian-Kazakhstan border and Polymetal's Varvara processing plant is in Kazakhstan.
As a result, the ore transport distance will be reduced from 150 km to 110 km and no longer involve transit.
Polymetal CEO Vitaly Nesis said: "Eastern Tarutin is more suitable for Polymetal in terms of logistics and potential reserve size." "This asset swap simplifies the operation and management of the Varvara hub and avoids the complexity of cross-border ore transport. At the same time, major exploration options have been retained."