The Lunnoye deposit is operated by Silver Territory, a subsidiary of Polymetal. The Lunnoye deposit is the second largest deposit in Russia based on reserves and total silver output. And it is the 12th largest silver producing mine in the world, based on production figures for 2005. The Lunnoye deposit is located in the northeast of Russia in the Omsukchan Region of the Magadan Region. It is situated 650 kilometers from Magadan and 134 kilometers from Omsukchan. 2005 production of silver amounted at 3.023 million of ounces and 24,700 ounces of gold. The deposit's ore reserves are estimated at 853,000 ounces by JORC classification. (Silver Territory was registered by resolution N154147 (on July 14th, 1999) by the Saint Petersburg Registration Chamber, evidenced by the State registration N90674. 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.)
