Petropavlovsk get the first underground ore is a pioneer in the 1-st quarter of 2017

19 Jul 2016

Petropavlovsk Plc (SC "Petropavlovsk") plans to get the first ore from the underground mine deposit Pioner in the Amur regionin the first quarter of 2017, according to the company. In the first half of the year, the company carried out works to start underground mining in the fields of Bakhmut.The contractor for the underground works began moving necessary equipment to the site of Pioner. “Development of an underground entry waywill begin in August, while the first underground ore will be received in the first quarter of 2017. We are planning to carry out 29.915 thousand cubic meters of underground works during the second half of the year at an average price of 13.1 thousand rubles per cubic meter”, is saidin the report.Exploration, finding mineral resources for underground mining at Bakhmut, as well as in other areas of Pioneer, is expected to be held simultaneously with the development of the mine. Petropavlovsk Plc is among the top five Russian gold producers.Its main assets are concentrated in the Amur region, whereoperate four mining and hydrometallurgical plants- Pokrovsky Rudnik, Pioner, Malomyr and Albyn. Following the results of 2015, the company reduced its gold production by 19.3% to 504.1 thousand ounces (15.7 tons). In 2016, the company plans to produce 460-500 thousand ounces of gold.