Polyus Gold International Limited
Trading update for full year 2012
Polyus Gold International Limited (LSE - PGIL, OTC (US) - PLZLY, “PGIL”, “Polyus Gold” or the “Company”), the largest gold producer in Russia, today releases its preliminary operating results for the full year ended 31 December 2012.
- Production of refined gold increased by 12% to a record 1.68 million ounces (2011: 1.50 million ounces) and exceeded 2012 production target by 5%
- Fifth consecutive year of growth in gold production with outstanding performance at the Company’s largest Russian mines
- 2012 gold sales estimated to reach USD 2.8 billion, a 22% increase compared to USD 2.3 billion a year ago
- Forecast refined gold production for 2013 set between 1.7 and 1.8 million ounces (1.59 - 1.68 million ounces excluding assets in Kazakhstan).
German Pikhoya, Chief Executive Officer of Polyus Gold, commented:
“I am pleased to present another set of target-beating operating results delivered by Polyus Gold. With the fifth consecutive year of growth in production, we have demonstrated our ability to consistently deliver on the ambitious growth plans we set out.
The record double-digit growth rate achieved in 2012 came as a result of continued investment and optimisation of our mines, delivering significant increases in production at all of our Russian operations, with an exceptional performance delivered by our largest mines, Olimpiada and Blagodatnoye, and steady improvements at Kuranakh.
2012 also saw good progress at our development projects, and we are looking forward to seeing these become a new generation of mines, starting with the world-class Natalka mine.”
Conference call information
Polyus Gold will host an analyst conference call today at 2 pm London time to present and discuss the full year 2012 operating results.
To join the conference call, please dial:
UK toll free 0808 237 0038
UK International +44 (0) 203 426 2845
USA toll free +1 866 928 6048
Russia toll free 810 800 206 85011
A live webcast of the presentation will be available at:
Event passcode: 636316
A replay of the conference call will be available from 5 pm London time on 28 January 2013, for the duration of 7 days.
To access the replay, please dial:
UK toll free: 0808 237 0026
UK International: +44 (0) 203 426 2807
Access number: 636316#
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 203 585 35 37 firstname.lastname@example.org
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37 email@example.com