JOHANNESBURG (miningweekly.com) – LSE-listed miner Petropavlovsk has reported a marginal increase in its gold production in the September quarter.
The company, which operates the Pioneer, Pokrovskiy, Malomir and Albyn mines in Russia, produced 104 000 oz of gold in dore, compared with 102 400 oz in the third quarter of 2016.
Production from the firm’s largest mine, Albyn, increased by nearly 6% year-on-year to 44 900 oz, while output from the Pioneer mine rose by 3% to 35 400 oz and production from the Malomir mine remained stable at 15 100 oz. Output from the Pokrovskiy mine fell by 18% to 8 600 oz.
“Production results for the third quarter of the year are as planned and reflect ongoing operational stability at the mines. As such, we are pleased to reiterate our expected production range for the full year of 420 000 oz to 460 000 oz, with a total of 336 400 oz of gold produced in the nine months to September 30, 2017,” nonexecutive chairperson Ian Ashby commented on Tuesday.
Petropavlovsk is building a pressure oxidation (POX) hub to process refractory concentrates. Ashby reported that work on the project had progressed well and that the development of the supporting infrastructure would be completed before the end of the year.
“The Malomir flotation plant (Stage 1) is scheduled for commissioning in the fourth quarter of 2017 ahead of our first flotation concentrate production, scheduled for the first quarter of 2018, to be followed by the commissioning of the POX hub oxygen plant in the second quarter of 2018," he said.
Completing the POX hub will unlock material value at the Malomir mine, where about 90% of the reserve base is categorised as refractory ore. The POX hub will extend the expected life-of-mine by more than 16 years.