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Wiluna suspends trade with Russian offtaker

Friday, March 4th, 2022

Wiluna Mining Corporation announced that it would immediately suspend gold concentrate shipments from its Wiluna mining center, in Western Australia, to Russia, given the current military action in Ukraine.

Wiluna told shareholders that it had arrangements in place to sell and ship all of its concentrate to alternative destinations.

“We will continue to monitor the situation in Ukraine, and any sanctions imposed on the Russian Federation before making further decisions on the destination of this product,” the company told shareholders.

Wiluna at the end of February announced the departure of its first shipment of gold in concentrate from the Port of Fremantle, bound for offtake partner Polymetal International. Polymetal is London and Moscow listed, and the company is headquartered in St Petersburg, and is Russia’s second largest gold producer.

To date, some 2 690 t of gold in concentrate, containing 5 650 oz of gold have been produced at Wiluna in the ramp-up to steady-state production. 

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