The Dukat deposit is operated by Magadan Silver, a subsidiary of Polymetal. Dukat is located in the northeast of Russia in the Omsukchan Region of the Magadan Region, 650 kilometers from Magadan and 40 kilometers from the Omsukchan settlement. The Dukat deposit is the largest Russian deposit in terms of reserves and production (for silver). And based on 2005 production figures, it is the world's third largest silver producing mining. 2005 production of silver amounted at 13.415 million ounces and 25,200 ounces of gold. The deposit's ore reserves (by JORC) are estimated at 15.753 million ounces. (CO. PROFILE: Magadan Silver was registered by decision N2433 of the Mayor of Magadan on October 10th, 2000, and evidenced by state registration N7296. Polymetal is Russia's second-largest gold producer. The company has 4 mining and 8 geological exploration subsidiaries located in the Sverdlovsk, Sakhalin, Chita, Irkutsk and Magadan Regions, the Republic of Buryatia and Khabarovsk and Krasnoyarsk regions. Polymetal holds 9 licenses for precious metal deposits and prospecting fields. It is Russia's largest silver producer and the sixth-largest silver producer in the world Polymetal's total precious metal reserves (C1+C2) are 19.700 tonnes of silver and 144 tonnes of gold.)
