Nord Gold N.V.

Nordgold is the product of fierce M&A activity conducted by Severstal amid the stresses in the aftermath of the financial crisis that was split off into a separate entity in early 2012. Its production asset base consists of eight medium to small-sized operations in West Africa and the CIS. The company has two development projects – Bissa (Burkina Faso) and Gross (Russia) – that are expected to ensure medium-term growth from above 717 koz in 2012 to circa 910 koz in 2015. The average mine life is seven years and the company has been investing in exploration in an attempt to extend it. The company’s P&P gold reserves stand at 12.7 mln oz, while MI&I resources were estimated at 30.2 mln oz. Going forward, Nordgold’s strategy will be centered on further de-bottlenecking and streamlining existing assets, and exploration at operating and greenfield properties.

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