The company also noted a 739,000-ounce increase in measured and indicated mineral resources to 4.9 million ounces of gold, exclusive of mineral reserves as of the end of 2010.
The increase from the 2009 year-end measured and indicated resources is largely attributable to an increase in resources at Kumtor mine in Kyrgyzstan, which is due to exploration drilling in conjunction with an increase in the size of the resource shell, the company said.
The open-pit mine production at Kumtor is projected to increase by 500,000 ounces of gold during the five-year period from 2011 to 2015, and the additional gold reserves and resources have extended the Kumtor mine’s life-of-mine plan by two years from 2019 to 2021.
Meanwhile, in Mongolia, at the Boroo mine proven and probable reserves total 392,000 ounces of contained gold, while there was a 16% increase in the proven and probable reserve to 1.5 million ounces of contained gold at the Gatsuurt project.
