GV Gold is set to launch the Svetlovsky gold mining and recovery plant in Bodaibo district, Irkutsk region, in September 2025. According to the regional government’s press service, the plant will have the capacity to process up to 3.5 million tonnes of ore annually and produce up to 3.1 tonnes of gold once fully operational.
The project involves a 17 billion ruble investment over a decade, which will be used for developing mine infrastructure, a rotation camp, and ancillary facilities. The anticipated tax contributions at all budget levels are expected to exceed 10 billion rubles.
GV Gold acquired the Svetlovskoye deposit rights in 2018 and has since expanded its licenses to cover a total area of 180 square kilometers. In early 2023, the company confirmed the final cut-off grade estimation report and approved the reserves with the State Reserves Committee. The proven gold reserves are estimated at 49 tonnes (1.576 million ounces) with an average grade of 1.67 g/t. The deposit features free-milling ores with an anticipated recovery rate of 88%.
GV Gold, one of Russia’s top ten gold-mining companies, operates in the Irkutsk region and Yakutia.
