“Petropavlovsk is a major vertically integrated Russian gold producer with JORC gold Resources of 20.5Moz of which 8.2Moz are Reserves.
The Company’s key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East and the Company has produced a total of c.7.3Moz of gold since operations began in 1994. Petropavlovsk has a strong track record of mine development, expansion and asset optimization.
The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at the site of the former Pokrovskiy mine, which enables the processing of the Company’s abundant refractory reserves and resources. In December 2018, Petropavlovsk poured the first gold recovered from processing concentrate through the autoclaves at the POX Hub. This state-of-the art facility unlocks the value embedded within c.5.3Moz of refractory reserves discovered by the Company and expands business opportunities into the field of third party concentrate processing. It also gives Petropavlovsk a significant competitive advantage in developing new gold exploration terrains in the region.
Petropavlovsk is one of the region’s largest employers and one of the largest contributors to the sustainable development of the local economy.”