The Magadan region
The Magadan region is home to the primary assets of the Group’s Omchak Joint Venture. The Magadan region holds c.15% of explored reserves of gold ore and 11% of placer gold of the Russian gold resource balance. The annual gold production of the region is reported to be 740–850,000 ounces. More than 200 companies are involved in the exploitation of mineral resources in the region, but of these, more than 60% of regional gold production is contributed by five companies including the Omchak Joint Venture.

Due to the prevalence of the mining industry, the region's infrastructure is well established, with good all-weather roads and a readily available electricity supply predominantly from the Kolyma River hydro-electrical station. 

Located in the north-east of Russia and with coastlines on the Arctic and Pacific Oceans, the Magadan region also has reserves of silver, copper and coal, and prospects for oil and gas which are considered high.