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polyus gold international lt (PGILF) Snapshot

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Shares Outstanding
3.0B
EX-Date
12/18/14
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Dividend
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Dividend Yield
6.10%
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polyus gold international lt (PGILF) Details

Polyus Gold International Limited is engaged in the extraction, refining, and sale of gold. It operates through seven segments: Krasnoyarsk, Irkutsk Alluvial, Irkutsk Ore, Yakutia Kuranakh, Magadan, Exploration, and Capital Construction. The company principally holds interests in the Olimpiada mine located in Krasnoyarsk region of Russia. It is also involved in the research, exploration, and development activities primarily at the Natalka licence area situated in the Magadan region. In addition, the company produces and sells electricity; and provides transportation, handling, warehousing, and other services. Polyus Gold International Limited was incorporated in 2005 and is headquartered in London, the United Kingdom.

19,452 Employees
Last Reported Date: 04/16/14
Founded in 2005

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polyus gold international lt (PGILF) Key Developments

Polyus Gold International Limited Provides Update on Natalka Project

Polyus Gold International Limited announced the final results of its review of the Mineral Resource and Ore Reserve estimates for the Natalka deposit ("2014 Estimates") and provides an update on the development of the Natalka project (the "Project"). Natalka Proved and Probable Ore Reserves estimated at 319 million tonnes at 1.6 g/t Au containing 16.2 million oz of gold; Natalka Measured, Indicated and Inferred Mineral Resources estimated at 777 million tonnes at 1.5 g/t Au containing 36.8 million oz of gold; Project operational review expected to be completed in mid-2015.

Polyus Gold International Limited Approves the Construction of 220 kV Razdolinskaya-Taiga Grid and 220 kV Taiga Substation in the Krasnoyarsk Region

Polyus Gold International Limited announced that its Board of Directors has approved the construction of 220 kV Razdolinskaya-Taiga grid and 220 kV Taiga substation in the Krasnoyarsk region. The commissioning of the Project is expected to significantly increase the existing power delivery capacity to the company's Krasnoyarsk operations, thereby reducing the electricity costs at Polyus Gold's mines and providing sufficient power capacity to support the company's development projects in the region. The commissioning of the 228-kilometres grid and substation will increase the power delivery capacity to the Severo-Eniseysky district of the Krasnoyarsk region from present 150 MW to 400 MW. It is expected that at least 250 MW will be available for use by other electricity consumers. Following the commissioning of the Project, the company expects to significantly reduce its consumption of coal and heating oil used by its Krasnoyarsk operations for power generation. The coal consumption is expected to decrease by 40% to approximately 300,000 tonnes per year (compared to approximately 500,000 tonnes per year presently). The heating oil consumption is expected to decrease by two thirds to approximately 10,000 tonnes per year from approximately 30,000 tonnes per year presently. As a result, the company's electricity consumption from carbon-intensive energy sources at its Krasnoyarsk operations is expected to reduce by over 40% to approximately 200 million kWh per year. Additionally, direct greenhouse gas emissions by the company's Krasnoyarsk operations are expected to decrease by 37% (or 600,000 tonnes of CO2 equivalent per year), while the reduction in total greenhouse gas emissions (direct and indirect) at the company's Krasnoyarsk mines is expected to be near 21% (or over 400,000 tonnes of CO2 equivalent per year). The commissioning of the grid and the substation is expected in the second half of 2016. Following the completion of the Project, the power grid and the substation are expected to be bought out by Federal Grid Company following which it will be integrated into the United National Power Grid. The capital expenditure for the Project is currently estimated at approximately RUB 6.7 billion.

Polyus Gold International Limited Reports Production Results for the Fourth Quarter and Full Year, 2014 and Net Debt Result for the Period Ended December 31, 2014

Polyus Gold International Limited in 2014 increased gold production by 3% year-on-year to 1.696 million ounces. This is in line with the updated output guidance of 1,680-1,720 koz for Fiscal Year 2014. Estimated annual gold sales reach $2.16 billion (against $2,329 million in 2013). In fourth quarter, 2014, gold production decreased by 7% versus the previous quarter to 460 koz. Estimated gold sales revenue is $583 million, a 3.32% decrease from $603 million in the previous quarter. The company's net debt as of December 31, 2014 was $340 million.

 

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