Petropavlovsk is one of Russia’s largest gold-mining companies. The Group operates four hard-rock gold mines in the Russian Far East, an area it has worked in since inception in 1994 and, to date, has produced more than 5.5Moz of gold. The Company has been listed on the London Stock Exchange since 2002. As at 31 December 2014, the Group had 23.3Moz of JORC mineral resources, of which 9.2Moz were ore reserves, the majority of which are at its four mines, which are still being actively explored by in-house geological teams. In response to the lower and more volatile gold environment, the Group is maximising profitability by targeting a minimum gross margin of US$500/oz from its operations, at current gold prices, via strict cost control and disciplined capital allocation.
The Group operates some of the largest gold mines in Russia in terms of ounces produced, processing capacity and resources.
On track to achieve full-year TCC/oz guidance of US$600/oz thanks to disciplined cost control.
Pure Russian gold player: strong Russian Government support; costs benefitted by depreciation of the Rouble.
Annual Production Gold, oz per year
Annual Proven & Probable Reserves Gold, Moz per year
Mineral Authority: JORC , GEOs: No
All data is attributable unless otherwise stated in footnotes. Mineral resources are exclusive of reserves unless otherwise stated in footnotes.