Operations

Producing 630,100oz of gold in 2011, Petropavlovsk remains one of Russia’s largest gold producers.

The Group operates four gold mines: Pioneer, Malomir, Pokrovskiy, and Albyn. Acquired as pre-development and early-stage exploration targets, these projects were developed utilising the Group’s in-house expertise for exploration, engineering and construction. All four mines are located in the Amur region, the Russian Far East, which is also home to a number of the Group's development assets. The region has a good transport system, based on two of Russia's key railways, and good access to low cost electricity from two large hydroelectric plants. In addition to these mines, Petropavlovsk has a large number of licences to mine alluvial gold.

The Group has a pipeline of projects which it is currently developing and a focussed exploration programme with an excellent track-record of success in identifying potential targets, increasing the Group’s reserves and resources and prolonging the life of mine at the Group’s projects.

The Group owns a 65.6% stake in IRC Limited, which is listed on the Stock Exchange of Hong Hong. IRC is a producer and developer of industrial commodities and its core assets are also based in the Russian Far East.

Key assets in the Amur Region, the Russian Far East