Petropavlovsk is one of Russia’s top gold producers.
The company is listed on the Main Market of the London Stock Exchange (ticker: “POG”) and is part of the FTSE 250.
Petropavlovsk has enjoyed ten consecutive years of growth in gold production, producing a record 710.4 koz of gold in 2012 from a combination of four hard-rock mines and the group’s alluvial operations in the Russian Far East. The group is targeting further production growth for 2013.
The group is developing a pressure oxidation processing (POX) hub in the Russian Far East, which, once commissioned, will be the only working, industrial POX facility in Russia for gold extraction.
The group conducts an active exploration program in areas adjacent to its existing processing assets and has been able to add annually (before depletion) to its mineral resources and ore reserves, which currently stand at 10.0 mln oz and 25.4 mln oz, respectively (as at July 1, 2012).