Seligdar announced its operating results for 2023 based on management data. Doré gold production by the Seligdar companies increased by 10% compared to 2022 and amounted to 8,274 kg. Production of tin in concentrate grew by 4% year-on-year to 3,003 tonnes; tungsten, by 26% to 103 tonnes; copper, by 29% to 1,187 tonnes. In 2023, Seligdar updated its historical maximum indicators for all metals produced. Revenue from metals sales by the Seligdar companies reached 57.1 billion Russian roubles in 2023 having increased by 69% compared to 2022.
Seligdar sponsored the Chess Cup of the Head of Yakutia. Six international grandmasters confirmed their participation in this year's competition.
Rusolovo announced its operating results for 2023. Production of tin in concentrate comprised 3,003 tonnes. Production of copper in concentrate grew by 29% to 1,187 tonnes. Production of tungsten in concentrate enhanced by 26% to 103 tonnes. Ore mining amounted to 926 thousand tonnes, an increase of 38% compared to the previous year.
at the Russia International Exhibition and Forum, Rusolovo presented an investment project for the construction of the Amurskiy Metallurgical Plant with a production capacity of 5.5 thousand tonnes and prospects for creating a full-cycle tin production cluster in the Khabarovsk region.
Rusolovo received permit to use an incinerator at the site within the Pravourmiyskiy production complex. Putting it into operation will minimise the cost of waste transfer to specialised organisations.
Seligdar supported a social project ‘Books as a gift’ of ‘Illustrated books…’ charitable foundation. Seligdar paid for production of sets consisting of a special colour illustrated tactile book and an electronic device called ‘Reading pencil’ for disabled children.
Seligdar obtained a license for the Mukodekskoye deposit. The Mukodekskoye license area is located 20 km from the operating Sininda production complex, on the territory of the Mamsko-Chuysky district of the Irkutsk region in the valley of the Mukodek stream. According to the State Balance of mineral reserves as of 01.01.2023, the gold balance reserves of the deposit comprised 3,409 kg of gold in C2 category and off-balance reserves, 1,049 kg of gold in C2 category.
Seligdar’s automated laboratory obtained UKARGEO certification confirming that the laboratory operates in full compliance with the existing requirements of GOST Certification/ ISO/ IEC, OCT including requirements for the premises, their technical facilities, personnel qualification and quality of performed operations.
Rusolovo put into operation a "short" scheme of closed-loop water circuit on the pulp pipeline of the processing plant at the Solnechny production complex. The use of the new "short" circuit will allow to significantly reduce costs of water and electricity.
A new triple deck screening table was put into operation at the processing plant of the Solnechny production complex. The equipment is used to separate solid minerals depending on their density during the ore dressing process. The introduction of new equipment contributes to the improvement of the production chain, replacing two units of single-deck screening tables.
Rusolovo started construction of an additional modular ore separation complex (XRT complex). In the future, the commissioning of the new equipment will increase the mine's production by 32% considering average ore quality supplied to XRT complex.
The first in 2024 session of the Technical Council of Rusolovo PJSC was held. The main topics were the results of work in 2023, issues of technical re—equipment and modernisation of production facilities, and the construction schedule of the Amurskiy Metallurgical Plant.
Rusolovo received permission to build an underground mine at the Pravourmiyskoye tin ore deposit in the Verkhnebureinskiy district of the Khabarovsk region. The commissioning will allow mining up to 540 thousand tonnes of tin ore per year.
Seligdar increased ore and gold reserves at the Nizhne-Yakokitskoye ore field. The total balance gold reserves of the Seligdar companies increased from 271.7 tonnes as at the end of 2022 to 282.3 tonnes as at the end of 2023.
Seligdar became a partner in the traditional Reindeer Herder’s Day in the Neryungrinskiy district. The event gathered over one thousand residents and guests of the district.
Seligdar signed an agreement that provides for joint geological exploration of ore gold deposits in the territory of the Aldan district of the Republic of Sakha (Yakutia). Prospective sites, including Dzhekondinskaya and Kurachan, are located in the area of the operating production complexes of Seligdar Holding – Ryabinovy and Podgolechny.
The Rusolovo’s Amurskiy Metallurgical Plant became resident of Khabarovsk special economic zone. A corresponding cooperation agreement was signed with the Corporation for the Development of the Far East and the Arctic.
New gravity concentrators were installed at the processing plants of the Solnechny and Pravourmiyskiy production complexes. The installation will increase the overall tin extraction by 1-2%, reduce the hardware load on the technological circuit, and optimise the workload of specialists during the processing operations.
An underground vehicle maintenance facility was put into operation at the Molodezhny mine of the Solnechny production complex to increase the efficiency of the mining process.
Seligdar became a sponsor of a traditional fishing called Northern Baikal, which took place in water bodies of the Slyudyansky lakes in the Northern Baikal district of Buryatia.
Seligdar conducted a first in this year session of its Technical Council. Special attention was devoted to issues of the development of the mineral reserve base and enhancement of the production complexes efficiency.
A working meeting was held in Moscow between the Head of the Republic of Sakha (Yakutia) Aysen Nikolaev and the President of Seligdar PJSC Konstantin Beirit, at which the prospects for the development of the Seligdar's activities in the region were discussed, and the results of work in 2023 were summed up.
Seligdar entered into agreement on development of engineering education and industry specialists in Yakutia with Trust Fund of Future Generations in the Republic of Sakha (Yakutia) and M.K. Ammosov North-Eastern Federal University. The main objective of cooperation is to support the Talents to Regions project that is implemented by Moscow Institute of Physics and Technology (MIPT). Seligdar will provide financial aid to support the educational programme and to set up special enhanced scholarships for students.
Seligdar published the consolidated financial statements prepared in accordance with the International Financial Reporting Standards for the twelve months ended December 31, 2023. Consolidated revenue of Seligdar PJSC increased by 61% year-on-year and comprised 56.0 billion Russian roubles. Gold sales for the twelve months amounted to 8 881 kg, 23% growth compared to the previous year. Bank adjusted EBITDA for 12M2023 improved by 57% year-on-year and reached 21.2 billion Russian roubles. Net debt/ bank adjusted EBITDA ratio was 2.18x as of December 31, 2023.
Seligdar announcee operating results for 1Q2024 based on management data. Doré gold production by the Seligdar Holding companies amounted to 845 kg; 9% increase year-on-year. Production of tin in concentrate decreased by 5% to 617 tonnes; production of copper in concentrate grew by 92% and reached 566 tonnes. Revenue from metals sales by the Seligdar Holding companies increased by 78% for 1Q2024 and comprised 8.1 billion Russian roubles.
Seligdar and National University of Science and Technology MISIS completed a research project that resulted in a method found to improve recovery of gold from gold sulphide ore from the Kyuchus deposit. The end-to-end recovery of gold into sulphide concentrate obtained from primary ores is 5-7% higher using optimisation of a number of key technological parameters.
A spring session of the Technical Council of Rusolovo PJSC was held. The operating results of the Solnechny and Pravourmiyskiy production complexes were reviewed, and operating plans for the next reporting period were determined. Special attention was paid to the development of the mineral reserve and resource base and the technical re-equipment of production facilities.
Rusolovo continues to implement investment projects aimed at modernisation of production. Due to the commissioning of a new mill, a concentration table and a centrifugal concentrator, as well as the replacement of worn-out equipment at the Pravourmiyskiy production complex in the 1Q2024, the plant's efficiency increased by 8.8%.
Seligdar installed more than 35% of metal structures for Khvoyny complex in the Aldan district of the Republic of Sakha (Yakutia). Concrete work to prepare the foundations of the main buildings and technological equipment has been fully completed. More than 65 percent of the work on the installation of metal structures of the main building of the factory has been completed, and its cladding with sandwich panels has also begun. Construction of the future filtration building continues. Specialists began installing technological equipment.
Seligdar attracted international consortium to develop technology for Kyuchus deposit development. Leading foreign and Russian consulting and engineering companies are involved into the studies, including Chilean company REDCO Mining Consultants, Chinese company BGRIMM Technology and the Russian SPb-Giproshakht LLC.
The implementation of an investment project to modernise production facilities continues at the Solnechny processing plant. Significant changes affected not only the external repairs of the factory's buildings and structures, but also the internal ones, which take into account changes in the production chain. In addition to the commissioning of new equipment, work was carried out in parallel to modernize the already in operation. Thus, the introduction of a high-speed radial lamellar thickener model, characterized by high performance, was associated with major repairs of the operated pulp thickening and desalination workshop.
Seligdar held Investor Day at Moscow Exchange. The event gathered over 100 members of investment community.
Seligdar PJSC conducted the Annual General Meeting of shareholders on June 4, 2024 in form of absentee voting; the quorum was achieved with the participation rate of 83,67%. Among other decisions the shareholders of Seligdar PJSC approved payment of final dividend for 2023 in the amount of 2.00 Russian roubles per ordinary share.
Seligdar traditionally granted financial support to a traditional Children's Day held at the Buryat Drama Theatre named after H.N. Namsaraev. Thanks to the support of regular partners and sponsors, the event was attended by more than 600 children from among the deprived, disabled, and orphans from 17 social and educational institutions in Buryatia.
Rating Agency Expert RA assigned expected credit rating of ‘ruA+ (EXP)’ to GOLD03 series gold bonds.
Seligdar conducted summer session of its Technical Council. One of the central topics was the progress at the construction site of the Khvoynoye gold processing plant, where the installation of metal structures, cladding of sandwich panel of buildings and installation of technological equipment are underway.
Seligdar started placement procedure for GOLD03 series gold bonds.
Rusolovo received two awards for the monument to Oleg Kuvaev in Pevek. The Company became the winner of the Programme "The best ESG projects of Russia" in two categories: "Decent work and economic growth. Development of remote territories" and "Landscaping" with a project for the development of small towns in the Far North.
Rusolovo PJSC started enrolling for targeted training. The Company initiated project of targeted training agreements with students of the Solnechny Polytechnic College. In 2024, it was planned to sign about four dozen contracts within the framework of the project.
Two projects of the Holding Group were highly appreciated by the jury of the IV Russian LOUD Communication Award. According to the results of the public defence at the LOUD Awards, the project of Rusolovo PJSC took second place in the "Issues Management" category, and the LOUD’s Grand Prix for Efficiency was given to the Seligdar’s gold bonds project.
Seligdar completed exploration and evaluation work at the Chulkovskaya area gold ore deposit, located in the Aldan district of the Republic of Sakha (Yakutia). This fieldwork was carried out in collaboration with Yakutskgeologiya JSC, a subsidiary of RosGeo. The expected increase in metal reserves may reach 5-6 tonnes of gold and 8-10 tonnes of silver.
Seligdar began construction of a new workshop for repairing electrical equipment at its production site in Aldan town. The construction phase of the project is scheduled for completion by the end of this year, and Holding Group specialists intend to finish the installation and commissioning of the technological equipment by the end of the first quarter of 2025.
Seligdar released 220 thousand pelyad juvenile fish into Vilyuy reservoir in Yakutia as part of a programme to reproduce aquatic biological resources and preserve their natural habitat. The purchase and release of juveniles fish were carried out jointly with specialists from the State Unitary Enterprise Chernyshevskiy Rybovodny Zavod.
Seligdar announced operating results for 1H2024 based on management data. Doré gold production by the Seligdar Holding companies increased by 7% year-on-year and reached 2,894 kg. Production of tin in concentrate decreased by 14% and amounted to 1,223 tonnes while production of copper in concentrate increased by 67% to 949 tonnes. For 1H2024, total revenue from metals sales increased by 3% year-on-year and comprised 20.8 billion Russian roubles.
A photo exhibition ‘Seligdar's Yakut Gold’ has opened on the central alley of Tverskoy Boulevard in Moscow. Visitors to the exhibition had the opportunity to learn about all stages of precious metal production on an industrial scale through the display of 64 photographs.
Seligdar received permission to put into operation a gold processing plant at the Poisk production complex in the Altai region. The design capacity is 200 thousand tonnes of skarn ore per year, from which it is planned to extract approximately 200 kg of gold annually. The plant at the Poisk production complex allows using in addition to heap leaching technology a cyanide and gravity scheme for extracting precious metals will be used, which will allow for achieving a higher rate of gold recovery - up to 90% overall.
Seligdar discovered deposit Ryabchik close to operated Ryabinovoye deposit. The registered reserves of the Ryabchik deposit amount to 4,604 kg of gold and 7,996 kg of silver (C1 and C2 categories). The volume of prognostic resources in the P1 category is 493 kg of gold and 0.6 tonnes of silver.
Aleksandr Khrushch appointed as President of Seligdar Holding Group.
Rusolovo held a session of the Technical Council. The main topic of discussion was the results of the Solnechny and Pravourmiyskiy production complexes. The participants discussed the modernisation of the processing plants, achieved results and planned guidance for concentrate production and extraction of tin, copper and tungsten after the commissioning of the new equipment. It was noted that the volumes of ore exports increased due to the new technological road exits, transport interchanges and reduction of its transportation time. Special attention was paid to the development of the mineral reserve and resource base and the technical re-equipment of production facilities. In particular, issues related to the development of projects for the implementation and commencement of pilot tests of the X-Ray sorting complex at the Pravourmiyskiy production complex, as well as the progress of work on the commissioning of the Mayskiy site at the Perevalnoye deposit were discussed.
Rusolovo continued the technological re-equipment of the Pravourmiyskiy production complex. A project was fulfilled to install the third additional XRT complex MRSK-3. In 2022, two main XRT complexes MRSK-1 and MRSK-2 were put into operation at the Pravourmiyskoye deposit and at the Molodezhny mine of the Solnechny production complex.
Rusolovo launched a project to install high-pressure grinding rolls at the Solnechny processing plant.
Seligdar published interim unconsolidated financial statements under RAS for the first six months ended June 30, 2024. The unconsolidated statements do not include the results of the main mining divisions of Seligdar PJSC. For the first six months of 2024, revenue of Seligdar PJSC totalled 727 million Russian roubles. Gross profit increased and reached 35 million Russian roubles for the period. Gross margin for 6M2024 remained at the same level as last year, at 5%. In January-June of 2024, Seligdar PJSC received dividends in the amount of 4,264 million Russian roubles. Seligdar PJSC paid dividends to its shareholders in the amount of 2,060 million Russian roubles.
Seligdar increased the design capacity of the gold processing plant in Buryatia from 100 to 200 thousand tonnes of ore per year.
Seligdar registered reserves from the unallocated subsoil fund in Buryatia on its balance. Seligdar added another 1,884 kg from the unallocated subsoil fund to the existing balance gold reserves in the amount of 2,330 kg of the Nerundinskoye deposit.
Seligdar strengthened the protection of its own digital infrastructure thanks to solutions from the Russian developer of information security ecosystems, UserGate.
Seligdar published its interim consolidated financial statements under IFRS for the six months ended June 30, 2024. The consolidated revenue of Seligdar PJSC for 6 months of 2024 amounted to 21.0 billion Russian roubles, remaining at the same level as last year. Excluding one-off transactions for the sale of third-party gold for 6.2 billion Russian roubles in 2023, consolidated revenue increased by 41%. The sale of produced gold in the reporting period amounted to 2,654 kg compared to 2,284 kg year earlier. The bank adjusted EBITDA for 1H2024 was 8.2 billion Russian roubles, an increase of 19% compared to last year. The bank adjusted EBITDA margin reached 39%. The net debt/EBITDA ratio as of June 30, 2024 was 2.37x.
Rusolovo participated in the restoration and preservation of the Amur Basin ecosystem. As part of the compensation measures, employees of the Amur branch of the Main Basin Department for Fisheries and Conservation of Aquatic Biological Resources of the Federal State Budgetary Institution Glavrybvod released 5,460 Amur sturgeon juvenile fish into the Amur River.
Rusolovo, as part of the technological re-equipment of the Pravourmiyskiy production complex, began implementing a project to build a second power transmission line. One of the main tasks after the commissioning of the main ventilation unit, as well as the additional XRT complex (MRSK-3), was to increase the reliability and ensure uninterrupted power supply to Category I facilities, production facilities and shift settlement. The length of the line was 3 km; the voltage was 6 kV.
Rusolovo implemented a project to optimise the process of purchasing and storing inventory items to ensure timely and uninterrupted supply for the Solnechny production complex with equipment, materials and spare parts amidst limited supplies.
Rusolovo completed the first stage of construction of infrastructure facilities for the logistics base of the Suluk railway station. The implementation of the project will optimise transport links between the nearest settlements of Suluk and the Pravourmiyskiy production complex, improve energy efficiency and ensure control of fuel consumption of the complex.
The weight control site at the Solnechny processing plant was repaired and re-equipped. The site is used for control weighing of incoming for processing ore.
At the Khvoyny production complex it was installed more than 60% of the total volume of metal structures, completed over 80% of all foundation work and installed 40% of the installation of sandwich panels on the cladding of the main industrial buildings.
Seligdar and the Government of the Republic of Sakha (Yakutia) signed an agreement on the development of industrial tourism at the industrial facilities of the Holding Group during the Eastern Economic Forum.
Expert RA Rating Agency affirmed credit ratings of Seligdar PJSC and its subsidiary Seligdar Gold JSC at ruA+ with stable outlook.
Seligdar completed the design of a gravity tailings flotation unit at the Poisk production complex in the Altai region and began preparations for the expert review of the construction. This will allow the Company to obtain copper-gold concentrate from gravity tailings, thereby increasing the economic efficiency of initial gold ore processing at the gold plant.
Seligdar successfully held public hearings in the village of Khayyr with the indigenous population of the Omoloy National Nasleg on conducting geological prospecting of the flanks of the Kyuchus deposit.
In Yakutia, students started studying under the Arctic Quantum federal network programme. The programme is implemented within the framework of the federal project Talents to the Regions by the Moscow Institute of Physics and Technology (MIPT) on the basis of the NEFU Institute of Physics and Technology.
Rusolovo increased the efficiency of drilling and blasting operations. Sets of new measuring instruments were purchased for diagnostics and measurements of work. These efforts resulted in the increased speed of work, reduced consumption, losses and mined ore dilution.
As part of the development of the Festivalnoye deposit within the Solnechny complex, Rusolovo began developing the next section of the Molodezhny mine, namely the Svintsovaya area.
Rusolovo started replacing vacuum filters for dewatering copper and tin concentrates at the Solnechny processing plant. The introduction of modern analogues makes it possible to increase production and reduce electricity consumption.
At the extraordinary General meeting of shareholders held September 30, 2024, the shareholders of Seligdar PJSC approved payment of dividend for the first half of 2024 in the amount of 4 (four) Russian roubles per ordinary share.
Seligdar signed an agreement to continue cooperation with the Belletskiy Evenki National Nasleg.
Seligdar published interim unconsolidated financial statements under RAS for the nine months ended September 30, 2024. Gross profit margin for the 9 months of 2024 remained at the level of the previous year and amounted to 5%. For January-September 2024, PJSC Seligdar received dividends in the amount of RUB 8,262 million. Dividends accrued to shareholders of PJSC Seligdar in the amount of RUB 6,180 million.
Seligdar became a member of the Federal Chamber of Commerce and Industry of the Russian Federation.
Seligdar planted more than 720 thousand tree seedlings on an area of over 363 hectares in the Republic of Sakha (Yakutia) in 2024.
Seligdar announced operating results for 9M2024 based on management data. Doré gold production by the Seligdar Holding Group companies amounted to 5 937 kg, a decrease of 5% compared to the same period last year; production of tin in concentrate comprised 1,751 tonnes. Total revenue from metals sales for 9M2024 increased by 38% year-on-year and reached 43.2 billion Russian roubles.
At the autumn session of the Technical Council, management representatives discussed the progress of technical modernisation of the Holding Group's production assets, as well as interim results of work.
Seligdar completed the implementation of functional control over the contractor's bulldozer fleet. The solution is implemented using the automatic dispatch system Quarry (ADS Quarry) at the Holding Group's production complexes in Yakutia.
Seligdar was ranked 33rd among 80 companies in the first ESG ranking of Russian companies issued by the RAEX rating agency according to the updated methodology using reporting data for 2023.
Seligdar received main award at MINEX Mining and Exploration Forum for high performance technologies. he Holding Group's projects on the rational use of mineral resources addressed the issues of the deposits development related to processes for extracting additional metal from sorption tailings, involvement in the processing of off-balance ore reserves using the XRF method and the prospects for processing gold and copper ore through heap leaching.
Seligdar was included in category I High Level of the ESG index of companies issued by RBC and the credit rating agency National Credit Ratings (NCR) for the third year in a row.
Rusolovo employees once again became participants in the BoomBattle project. The All-Russian environmental campaign for waste paper collection takes place every year in support of the national project Ecology.
As part of its support to the regions of its operations, Rusolovo began implementing a project to reconstruct the bridge over the Levaya Silinka River and the section of road leading to the Solnechny processing plant.
AK&M Rating Agency assigned the highest rating of non-financial sustainability reporting to Seligdar.
Seligdar confirmed its ‘gold’ status in the Forbes rating.
Holding Group became a member of the Russian Union of Industrialists and Entrepreneurs (RSPP).
Seligdar and National Broadcasting Company Sakha completed filming of trilogy about Kyuchus.
Seligdar published the interim consolidated financial statements prepared in accordance with the International Financial Reporting Standards for the nine months ended September 30, 2024.·Consolidated revenue of Seligdar PJSC for 9 months 2024 totalled 43.0 billion Russian roubles, a 16% increase compared to the last year’s figure. Gold sales, recorded in the IFRS revenue, comprised 5,485 kg against 4,641 year earlier. Bank adjusted EBITDA for 9M2024 improved by 31% year-on-year and amounted to 19.3 billion Russian roubles. Net debt/ bank adjusted EBITDA ratio was 2.52x as of September 30, 2024.
Rusolovo PJSC held the next session of the Technical Council. The main topic of discussion was the results of the work of the Solnechny and Pravourmiyskiy production complexes in all areas for the third quarter of 2024 and plans for the next reporting period.
Rusolovo plans to introduce a tin and copper concentrate packing station at the drying stage for uninterrupted operation. This resulted in improved production cycle of the beneficiation. The Company started preparatory installation work.
The Chaunkiy Museum of Local History and Rusolovo presented a new collection of short stories by Oleg Kuvaev. The presentation of the new project Terra incognita – Territory took place in St. Petersburg at the Karpinskiy Institute on the basis of the Geological Exploration Museum named after Academician F.N. Chernyshev. The new collection of short stories is dedicated to the 90th anniversary of the legendary writer. The collection includes fourteen works by Oleg Kuvaev – twelve short stories and two journalistic works. Each work is accompanied by illustrations made by pupils of the Pevek Art School and the Lipetsk Art Studio.
Seligdar extended the placement period of GOLD03 gold bonds.
Seligdar held a winter session of the Technical Council. The Holding Group's management positively assessed the volume of work performed on the modernisation and technical re-equipment of production complexes. Work and plans for the reproduction of the mineral reserve and resource base were also discussed.
Rating Agency Expert RA assigned ‘ruA+’ Credit Rating to SILV02 series bonds of Seligdar.
Seligdar placed silver bonds on Moscow Exchange. Par value of each silver bond is equivalent to ten gramme of silver. The par value in monetary terms is calculated in Russian roubles based on the reference price for silver set by the Bank of Russia. Term to maturity is 5 years; the coupon is fixed rate and pays 4% per year. The placement volume is 2.5 tonnes of silver.
Seligdar took part in Russia Calling! Investment Forum. At the session Building a long-term investment portfolio: traditional and alternative instruments, Alexander Khrushch, President of Seligdar PJSC, spoke about features and advantages of gold as a tool for hedging risks.
NCR confirmed credit rating of Seligdar at A+.ru with stable outlook.
Rusolovo summed up the 2024 results of the construction of infrastructure facilities for the logistics base of the Suluk railway station. The construction of the facilities took place in several stages. By the end of the year, the following works were completed: foundations for equipment and engineering networks, sewage engineering systems and emergency wastewater. The installation of reservoirs and process tanks and 80% of the work on process pipelines laying were completed. Testing for reliability and leak-resistance is planned. The commissioning of the logistics base of the Suluk railway station is scheduled for the first half of 2025.Seligdar summed up the 2022 operating results. Gold production by the Seligdar companies increased by 6% compared to 2021 and exceeded 7.55 tonnes. Production of tin in concentrate remained at the level of the previous year and totalled 2,901 tonnes. Production of tungsten in concentrate grew by 72% compared to 2021 and reached 81 tonnes. The growth was driven by the modernisation of technological schemes of operations. Production of copper in concentrate increased 2.5-fold up to 916 tonnes for 2022. Total revenue from metals sales reached 34.7 billion Russian roubles.
Rusolovo commissioned a mine water treatment station. The station’s work is based on the technologies developed by specialists of the Division for science and technology.
Rusolovo finished construction of vehicle bridges over Boltoro River and Gorely Stream, the most complicated part of the taiga road between Suluk settlement and Pravourmiyskiy production complex in the Khabarovsk region. The bridges provide a passage for special and other vehicles at any time of the year including difficult climate conditions such as autumn and spring flooding. In 2023, Rusolovo repaired 36 km of the road that made 50% of the whole 84 km length of the Suluk-Pravourmiyskiy road. Corrugated metal pipes of approximately 600 metres long were used to strengthen the complicated parts of the bridges. Last year, the Company built 14 bridges.
Seligdar became a winner of All-Russian educational project ‘Expert Appraisal of the Future 5.0’ organised by Glavgosexpertiza (Federal Autonomous Institution 'Main Department of State Expertise’). Seligdar as a part of the SYSTEMA team with COLORNEW IT-Company, Gaschem Engineering LLC, EURASIAN AWP COP presented a project of automated system for design documentation quality management based on quality index; the project was included in the TOP-5 best projects following the results of the presentation.
At the Extraordinary General Meeting held in form of absentee voting on February 28, 2023, shareholders of Seligdar PJSC elected a new Board of Directors that was expanded to 12 members.
Gold production at the processing plant of the Ryabinovy complex passed the 10-tonne mark since its commissioning 2017.
Pravourmiyskoye LLC, a Rusolovo PJSC subsidiary, won an auction for an alluvial deposit Topazovy located in the Verkhnebureinskiy district of the Khabarovsk region. The balance reserves of the deposit registered in the State balance of mineral reserves as at January 1, 2022, comprise 942 tonnes of tin including 524 tonnes in C1 category and 418 tonnes in C2 category.
Tin Mining Company JSC, a Rusolovo PJSC subsidiary, won an auction for the subsoil use right for the Solnechnoye deposit located in the Solnechny district of the Khabarovsk region. The balance reserves of the deposit registered in the State balance of mineral reserves as at January 1, 2022, comprise 21.9 thousand tonnes of tin including 10.4 thousand tonnes in B + C1 categories and 11.5 thousand tonnes in C2 category. Off-balance tin reserves in C1 category comprise 2 thousand tonnes. The final one-off payment for the right to use subsoil deposit amounted to 42.4 million Russian roubles.
Seligdar supported traditional Evenki festivities - the Reindeer Herder’s Day - in the Aldan district of the Republic of Sakha (Yakutia).
The Seligdar senior management and heads of all main functional departments participated in a spring session of the Technical Council held the Company.
Rusolovo and Solnechny Industrial College summed up results of the cooperation. In 2022, 158 employees of the Company’s subsidiaries undertook courses of advanced training, programmes of new professions education and re-qualification.
Rusolovo commissioned phase I of the dry cake storage facility at the processing plant of the Solnechny production complex. The design documentation envisages implementation of the project in three phases. Phase I of the facility is commissioned; it is designed to operate during 2-3 years. The storage facility is designed to store 480 thousand tonnes of dry cake per year; the design capacity allows safe storage of tailings in the next 9-10 years.
Under the project of technical re-equipment Rusolovo put into pilot operation two FMR-3.2 flotation machines at the plant of the Solnechny production complex. The machines are designed for ore processing by froth flotation.
Exploration at the Pyrkakay stockworks is on schedule: under the programme, 54 tonnes of large tonnage technological samples were collected and delivered to the laboratory. Five thousand running metres were drilled to collect technological samples of primary ores.
Seligdar became the first in Russia to issue gold bonds – a new financial instrument for savings denominated in gold. On April 4, 2023, Seligdar arranged bookbuilding for 5-year GOLD01-series bonds. The par value of each GOLD01-series bond in units is one gramme of gold.
Rating Agency Expert RA assigned expected credit rating of ‘ruA+ (EXP)’ to the bonds of GOLD01-series.
The power grid was modernised at the Nizhne-Yakokitskiy production complex, electric power lines were renewed and new equipment was installed. As a result, in case of a sudden electric power outage, less than a minute is needed for the automated switch to diesel backup power stations.
A dry magnetic separation facility was put into operation at the Samolazovskiy production complex. The equipment is intended for sulphide ore processing via dry separation in order to increase the gold grade at the final stage after being thermally treated.
Seligdar announced operating results for 1Q2023 based on management data. Gold production by the Holding’s companies increased by 13% year-on-year and comprised 777 kg. Production of tin in concentrate grew by 20% to 652 tonnes.
Seligdar published IFRS consolidated financial statements for twelve months ended December 31, 2022. Consolidated revenue comprised 34.7 billion Russian roubles. EBITDA amounted to 11.8 billion Russian roubles. EBITDA margin was 34%.
Rusolovo put into operation screw classifiers at the processing plant of the Solnechny production complex. The purpose of the screw classifiers installation is to increase the extraction of tin concentrate during the sludge cycle.
Rusolovo started the project in order to increase and renew its mining machinery and vehicles fleet. The first dump trucks were supplied and put into operation at the Molodezhny underground mine in the Solnechny production complex.
Seligdar completed the placement of its 5-year GOLD01 series bonds. The final placement volume exceeded 11 billion Russian roubles which was almost 4 times greater than the initially intended volume of 3 billion Russian roubles.
Rusolovo provided aid for repair works of paramedical and midwifery station in the Suluk settlement of the Verkhnebureinskiy district of the Khabarovsk region.
Seligdar traditionally granted financial aid to the Buryat branch of the Russian public charity foundation ‘Russian Children’s Fund’ to help organise its annual charity event on the International Children’s Day.
Seligdar held a summer session of its Technical Council in Aldan town, Republic of Sakha (Yakutia). The main topics of the Council were 1H2023 results, issues of the complex automation of production and reduction in mining costs, the progress of the Kyuchus and Khvoynoye projects.
Seligdar took part in the campaign ‘100 birches for centenary of Aldan town’. On the World Environment Day, the employees of Seligdar PJSC, town residents, members of public organisations, and staff of other companies planted seedlings on the territory of the cultural and ethnographical complex Seveki.
At the Annual General Meeting of shareholders held on June 14, 2023 in form of absentee voting, the shareholders of Seligdar PJSC approved the Annual Report, the Financial Statements for 2022; made the decision on profit distribution; appointed an auditor; elected members of the Board of Directors and members of the Internal Audit Commission; approved the revised Charter of Seligdar PJSC.
Seligdar finished drilling at the Kyuchus deposit 3 months ahead of the schedule. Total of 110 thousand running meters were drilled at the deposit.
Seligdar was included in the Rating Agency RAEX ranking of human rights respect ‘TOP-50 in Human Rights, Diversity and Inclusion’.
A new grinding mill was put into operation at the Poisk production complex. The new mill is equipped with an electronics, monitoring and control system as well as an oil storage station.
Seligdar announced its operating results for 1H2023 based on management data. Doré gold production by the Seligdar companies reached 2,692 kg, an 8% increase year-on-year. Production of tin in concentrate grew by 14% to 1,425 tonnes, copper in concentrate by 28% to 569 tonnes. Total revenue from metals sales by the Seligdar companies increased by 87% and amounted to 20.2 billion Russian roubles.
Seligdar held its traditional Investor Day on the Moscow Exchange. The 2022 results, short- and long-term development plans, operating and financial results of the Company were discussed at the meeting. The event gathered over 200 members of the investment community.
Seligdar paid a quarterly coupon on its debut gold bond issue GOLD01 in the amount of 167.6 million Russian roubles.
Seligdar and the Employment office of the Aldan town organised a summer work camp for teenagers between 15 and 18.
Under the programme of its strategic development, Rusolovo continued to increase the special vehicles fleet at the Solnechny and Pravourmiyskiy production complexes. Drilling machinery and equipment were renewed there. Three hydraulic drilling rigs were supplied to the Solnechny production complex and one, to the Pravourmiyskiy production complex.
Under the programme of replenishment of biological resources and the habitat, Rusolovo PJSC supported a release of 5.4 thousand young Amur sturgeons into the Amur river. The event was held together with the Amurskiy office of Federal State Budgetary Institution ‘Glavrybvod’ and took place at the Anuyskiy fish hatchery (the Nanayskiy district).
Seligdar Gold JSC, a Seligdar PJSC’s subsidiary, received a resolution (protocol) on approval of the reserves of the Trassovoye gold ore deposit, which is a part of the Nizhne-Yakokitskoye ore field. The resolution of the State Commission on Mineral Reserves approved the balance reserves of 14,252 kg of gold including 10,849 kg in the C1 category. The total reserves increment comprised 13,455 kg of gold.
Seligdar published its interim consolidated financial statements prepared in accordance with the International Financial Reporting Standards for the six months ended June 30, 2023. Consolidated revenue of Seligdar PJSC amounted to 21 billion Russian roubles for 6M2023, a 1.8-fold increase year-on-year. Bank-adjusted EBITDA amounted to 6.9 billion Russian roubles. Bank-adjusted EBITDA margin of the gold division stood at 48%.
The gold processing plant at the Ryabinovy production complex has reached the capacity in 1.6 million tonnes of ore per year against the initial design capacity of 1 million tonnes of ore per year. A new jaw crusher was assembled at the plant. The crusher allowed to increase the crushing volume and corresponds to the processing level of the gold plant.
A new KAMAZ truck with a multipurpose air engine heater was supplied to the Seligdar production division in Yakutia. It is intended to supply preheated air to warm up the equipment and repair mining machinery.
Rusolovo PJSC and the Government of the Chukotka Autonomous Okrug entered into a cooperation agreement. The agreement implies the implementation of joint education and scientific research projects, cooperation in the field of target education of industry specialists and the creation of new jobs in the tin mining industry on the territory of the Chukotka Autonomous Okrug.
With the aid of Rusolovo, a monument to the geologist, geo-scientist and writer Oleg Kuvaev was unveiled in the urban district Pevek. The bronze monument of 5.5 metres high stands on the Yanrapaakenay Mountain with sweeping views over the town and Chaunskaya Bay in the East Siberian Sea where the first ever floating nuclear power plant Akademik Lomonosov is located.
Seligdar obtained a license for the exploration of the flanks of the Kyuchus ore field. An increase in reserves up to 250-280 tonnes of gold is expected as a result of the follow-up exploration of the Kyuchus deposit and of its flanks.
Rusolovo PJSC installed new machinery - a high-speed model of radial lamella thickener in the processing cycle of thickening pulp (mixture of finely ground ore and water) desliming as well as closed-loop water clarification. The project is implemented as a part of the modernisation of the processing plant of the Solnechny production complex.
Rusolovo PJSC and the Chukotka Autonomous Okrug entered into an agreement on implementing investment project to develop the Pyrkakay stockworks deposit at Eastern Economic Forum 2023.
Rusolovo PJSC, the Government of the Khabarovsk region and the Federal State Educational Institution of Higher Professional Education ‘Pacific National University’ entered into an agreement on cooperation in professional education and employment in the Khabarovsk region.
The Ministry of the Russian Federation for the Development of the Russian Far East and the Arctic, the Government of the Republic of Sakha (Yakutia), State Atomic Energy Corporation Rosatom and Seligdar PJSC entered into an intent agreement for cooperation in projects of the Kyuchus cluster of tin, gold and other mineral deposits.
Rusolovo PJSC and Corporation for the Development of the Far East and the Arctic (KRDV) entered into a number of agreements on cooperation for the purpose of development of mining and mineral processing industry in the Far East and the Arctic, in particular, to implement a project of metallurgical plant construction in the Khabarovsk region, investment projects of the Pyrkakay stockworks development in the Chukotka Autonomous Okrug and Oktyabrskoye, Perevalnoye, Solnechnoye deposits development in the Khabarovsk region.
Starting from September 19, 2023, short selling of Seligdar shares was permitted on Moscow Exchange.
On September 22, 2023, Seligdar shares were included in the MOEX Russia Index and RTS Index.
Seligdar was included for second year in a row in the ‘high level’ category I of the ESG index of companies produced by RBC and credit rating agency National Credit Ratings (NCR).
Rating Agency Expert RA assigned ‘ruA+ (EXP)’ Expected Credit Rating to GOLD02 series bonds.
In order to increase the capacity of the gold processing plant at the Ryabinovy production complex third conditioning tank for cyanide pre-leaching was put into operation. It allowed increased leaching by 12 hours and sorption time at the plant as well as maintaining maximum recovery rate of up to 90% of gold.
An opening ceremony of the renewed geology hall in the local history ethnographic centre of the Solnechny district was held to coincide with the anniversary of the Solnechny settlement. Under the agreement on cooperation between the administration of the Solnechny district and Rusolovo PJSC, financing was provided for the refurbishment, design and technological renewal of the hall.
Seligdar’s production complex Poisk in the Altai region delivered on the 2023 production plan as early as in the 3rd quarter and produced 322 kg of gold.
Polymetallic Holding Seligdar obtained a license for subsoil use rights for the Mlelyuveem River deposit located in the Chaunkiy district of the Chukotka Autonomous Okrug, including the right to conduct geological survey, exploration and mining. The auction was won by Rusolovo PJSC, the parent company of the Seligdar’s tin division. One-off payment for the license amounted to 40.3 million Russian roubles.
On October 10, 2023, Seligdar collected orders for its 6.23-year GOLD02 series fixed rate amortised bonds with amortisation repayment in 2026, 2027 and 2029.
On October 13, 2023, the Board of Directors of Seligdar PJSC made a decision to change its stake in the share capital of Rusolovo PJSC through transfer of up to 10% shares owned by Seligdar as payment for shares in closed-end investment fund Perspektivnoye Razvitiye. 100% of shares in this fund belongs to Seligdar PJSC.
On October 17-21, 2023, Seligdar conducted a regular session of its Technical Council.
Seligdar announced its operating results for 9M2023 based on management data. Doré gold production by the companies of Seligdar Holding increased by 10% compared to the same period of the previous year and amounted to 6,253 kg. Production of tin in concentrate grew by 17% to 2,231 tonnes; tungsten, by 53% to 88 tonnes; copper, by 29% to 870 tonnes. Revenue from metals sales by the Seligdar Holding companies reached 37.5 billion Russian roubles for 9M2023 having increased by 88% year-on-year.
Seligdar laid the foundation for a gold processing plant and main facilities of the Khvoyny production complex.
Rusolovo provides aid to the industry-specific educational institutions on a regular basis in order to arrange education of professionals in the regions of its operations. The Company handed a jaw crusher over the Solnechny industrial college.
Rusolovo produced the first tonne of the copper concentrate at the Pravourmiyskiy production complex in the Khabarovsk region. Earlier, the complex produced only two metal concentrates – tin and tungsten concentrates.
Rusolovo commissioned a modern energy-saving waste-heat recovery system in a shift camp of the Pravourmiyskiy production complex. This technology allows increasing the efficiency of heat and hot water supply to the shift camp at the Pravourmiyskoye deposit and contributing to more economical and ecological energy consumption amid growth in production volumes.
Under Rusolovo’s investment programme of technical re-equipment of the processing plant at the Solnechny production complex, the technological process of concentrate production was enhanced. A ring high-gradient separator was put out into pilot operation.
Seligdar earned the ‘gold status’ in the Forbes rating of best employers in Russia.
Gazprombank and Seligdar Holding Company conducted a tree-planting event to commemorate its bond issue – “the green tombstone”. At the event held in the Khodynskoye polye park (Khodynka Field) in Moscow, a mature oak tree was planted to commemorate a debut issue of Seligdar’s gold bonds.
Seligdar was ranked 36th among 160 companies in the updated November ESG Ranking of Russian companies designed by the RAEX Rating Agency.
At the extraordinary General meeting of shareholders held on November 22, 2023, the shareholders of Seligdar PJSC approved the payment of dividends on its ordinary shares for 9 months of 2023 in the amount of 2 (two) Russian roubles per share.
Seligdar published its interim condensed consolidated financial statements prepared in accordance with the International Financial Reporting Standards for the nine months ended September 30, 2023. Consolidated revenue of Seligdar PJSC increased by 80% year-on-year to 37.2 billion Russian roubles. Bank-adjusted EBITDA improved by 65% year-on-year and amounted to 14.7 billion Russian roubles. Bank-adjusted EBITDA margin was 40%.
Expert RA Rating Agency affirmed credit ratings of Seligdar PJSC and its subsidiary Seligdar Gold JSC at ruA+ with a stable outlook.
Rating agency National Credit Ratings affirmed the credit rating of Seligdar PJSC at A+.ru with a stable outlook.
National Rating Agency affirmed credit rating of Seligdar PJSC and its subsidiary Seligdar Gold JSC at AA-|ru| in Russian rating national scale; the outlook is stable.
Rusolovo finished construction of phase II of the dry cake storage facility at the processing plant of the Solnechny production complex.
Under the special vehicles renewal programme, 8 trucks were supplied to Rusolovo’s production complexes. Their usage will contribute to growth in drilling and mining works, to an increase in efficiency of delivery of large volumes of ore for further processing and enrichment.
The employees of Rusolovo PJSC participated in ‘BoomBattle’, an All-Russian environmental campaign for used paper collection as part of the ‘Ecology’ national project.
As part of its cooperation with educational institutions Rusolovo PJSC supported a station of young naturalists in the Solnechny settlement and bought equipment to carry out different field experiments and testing.
A package substation with a transformer and high voltage units was purchased for the Pravourmiyskiy production complex. The demand in new electric power equipment is related to a step-by-step expansion of the production complex, growing production volumes as well as necessity in electric power supply of the shift camp and other objects of the complex.
Seligdar assembled a wet semi-autogenous grinding mill and overflow ball mill, which are the main elements of the production chain at the gold processing plant of the Khvoyny production complex.
Seligdar was awarded a prize at the All-Russian competition of best practices of youth employment organised by the Ministry of Labour and Social Protection of the Russian Federation in 2023.
Seligdar summed up full-year results at a session of its Technical Council in the Aldan headquarters.
Seligdar sponsored the 1st Far Eastern Subsurface Use Forum.
Seligdar successfully completed the placement of the GOLD02-series bonds. The term to maturity of the GOLD02 bonds is 6.23 years; the duration with amortisation is 4.3 years. The final placement volume amounted to 6.7 billion Russian roubles.
In order to increase the territory for inventory storage a new warehouse of over 1,100 square metres was built. An overhead travelling crane was installed to move large-size and heavy goods inside the warehouse.
Under the modernisation programme of the Solnechny production complex, new equipment for a chemical analysis laboratory was purchased: a jaw crusher to crush geological samples; an atomic absorption spectrometer to determine the concentration of metals in a sample; a portable X-Ray fluorescence analyser to determine the elemental composition of metals and alloys, soils, and ore. The new equipment allowed to significantly increase the quality of analysis of ore and concentrate samples.
Rusolovo commissioned a main ventilator unit at the Pravourmiyskiy production complex. Its installation was planned as a part of the current year’s investment programme to develop new mining zones of the Pravourmiyskoye deposit. The advantage of the new model is high-voltage frequency converters use for regulation of air stream which should decrease electric power consumption.
In 2023, Seligdar reached a new level: doré gold production by the Seligdar companies increased by 10% compared to 2022 and amounted to 8.27 tonnes. Production of tin in concentrate grew by 4% year-on-year to 3 thousand tonnes.
Seligdar summed up operating results for 2021. Gold production by the companies of the Seligdar Holding grew by 3% against 2020 and exceeded 7.2 tonnes. Production of tin in concentrate increased by 15% and totalled 2.9 thousand tonnes. Production of tungsten in concentrate decreased by 35% to 47 tonnes. Production of copper in concentrate comprised 366 tonnes, a 55% increase compared to 2020.The total revenue from sales of metals amounted to 35 billion Russian roubles that made a 2% increase year-on-year.
January 20, 2022, Rusatom Overseas JSC (a company of the Rosatom State Corporation) and Seligdar PJSC signed an Agreement on the Supply and Consumption of Energy Generated by a Small Modular Reactor Nuclear Power Plant (SMR NPP) for the development of the Kyuchus gold deposit in the Republic of Sakha (Yakutia). The agreement sets a 40-years period of electrical power supply, starting from June 30, 2028. Seligdar will use at least 35 MW of nuclear-generated electricity in the Kyuchus deposit project.
Gold skarn ore processing plant with capacity of 200 thousand tonnes of ore per year was put in pilot operations at the Poisk production complex in the Altai region.
Seligdar became a general partner of the Republican Olympic Reserve Ski Sports School of the Republic of Sakha (Yakutia) in Aldan town
Seligdar ski slope was opened in the Aldan district of the Republic of Sakha (Yakutia).
Rusolovo PJSC and administration of Solnechny municipal district of the Khabarovsk region signed an agreement on cooperation. The agreement envisages material support from Rusolovo PJSC to resolve social and economic tasks as a part of the complex district development. The significant part of the agreement refers to the investments in renovation and modernisation of the Museum of Local History of the Solnechny settlement.
White Gold LLC, a company of the Seligdar Holding, made the final auction payment for the right to develop the Kyuchus deposit. The total payment comprised 7.735 billion Russian roubles.
The Federal Subsoil Resources Management Agency (Rosnedra) issued a license for the Kyuchus deposit development to White Gold LLC (a company of the Seligdar Holding).The Company won the auction for the license to develop the deposit in October 2021.
Rusolovo PJSC started pilot operation of the XRT sorting facility. The implementation of XRT sorting at Pravourmiyskoye LLC (a subsidiary of Rusolovo PJSC) will allow increasing of the complex capacity to 450 thousand tonnes of ore per year without construction additional processing facilities and enable growth of tin in concentrate production up to 1,800 tonnes per year.
At the extraordinary General meeting held March 10, 2022, shareholders of Seligdar PJSC approved the share capital increase through placement of 37,645,270 additional ordinary shares by private placement to two potential buyers: Maximus LLC and Treasury Invest JSC, existing PJSC Seligdar’s shareholders.
Drilling started at the Kyuchus deposit. In March, OGK Group, a general contractor of White Gold LLC for the Kyuchus deposit, organised a fully autonomous drilling site and started core drilling. The total number of drilled meters amounted to 72 thousand running meters.
Seligdar announced operating results for 1Q2022 based on management data. Gold production by the Holding’s companies comprised 689 kg. Production of tin in concentrate was 542 tonnes.
Seligdar published its consolidated IFRS financial results for 2021. Consolidated revenue increased by 7% compared to 2020 and comprised 35.6 billion Russian roubles. EBITDA increased by 33% and amounted to 19.2 billion Russian roubles. EBITDA margin reached 54% compared to 44% in the previous year.
The project of the Khvoynoye mining and gold processing complex received a positive State Environmental Review.
Seligdar started exploration at the Khokhoy ore field. P1 and P2 prognostic resources* comprise 6 tonnes and P3 prognostic resources – 13 tonnes.
Seligdar allocated more than 4.5 million Russian roubles to organisation of cultural and sport events devoted to the 100th anniversary of the formation of the Yakutian Autonomous Soviet Socialist Republic.
At the meeting held on April 27, 2022, the Board of Directors of Seligdar PJSC made decision to set the placement price of ordinary shares of additional issue at 50.10 Russian roubles per share (including for purchase under pre-emptive right). 37,645,270 additional issue shares (or 3.8% of total shares) will be offered through the private placement to two potential buyers and current Seligdar’s shareholders: Maximus LLC and Treasury Invest JSC.
Rusolovo PJSC initiated programme of paid internship for students and graduates of industry-specific educational institutions with a post-internship job opportunity.
The Seligdar PJSC’s hotline was modernised.
At the meeting dated May 5, 2022, the Board of Directors of Seligdar PJSC made recommendations to the Annual General Meeting of Shareholders to pay dividend for 2021 in the amount of 4.50 Russian roubles per ordinary share.
Seligdar purchased 75% of Khatirkhay LLC from RG Proekt LLC (a subsidiary of Rosgeologia JSC). Seligdar PJSC and Rosgeologia JSC conduct together geological survey and exploration of the Khokhoy ore field situated in the Republic of Sakha (Yakutia). The parties also signed an option agreement, according to which Seligdar had right to increase its share in Khatirkhay LLC up to 100% after the reserves have been placed on the State balance sheet.
Rusolovo PJSC began to estimate a metallurgical production launch in the Khabarovsk region that would allow future diversification of the company’s product portfolio. Rusolovo conducts studies to develop newest, ecologically clean and efficient methods to process ore concentrates in order to significantly increase recovery rate and create a modern full cycle metallurgical production in the region.
For the first time, Rusolovo started a ‘Summer work camp 2002’ programme for schoolchildren between 15 and 18 years. The summer teams will help young people develop skills, get familiar with various professions, gain their first official work experience and receive first salary.
Two modern dormitories for 120 beds were built at the Sininda production complex in the Republic of Buryatia.
The Board of Directors of Rusolovo PJSC held its meeting on May 30, 2022. Evgeniy Kolesov was elected the President of Rusolovo PJSC, earlier he held the position of the Company’s CEO.
The design documentation of gold skarn ore processing plant at the Poisk production complex in the Altai region received positive State Environmental Review.
At the Annual General Meeting held in form of absentee voting on June 10, 2022, shareholders of Seligdar PJSC approved the Annual Report, Financial Statements for 2021 and revised Regulations on the Board of Directors, decided on profit distribution, appointed an auditor, elected members of the Board of Directors and the Internal Audit Commission. Seligdar PJSC’s shareholders approved dividend for 2021 in the amount of RUB 4.5 per ordinary share. Total sum of dividends is 4,466 million Russian roubles.
Seligdar PJSC and administration of municipal district of the Northern Baikal region of the Republic of Buryatia signed an agreement on social and economic cooperation up to 2026.
Seligdar PJSC’s newly elected Board of Directors had a meeting on June, 17, 2022, after its election at the Annual General Meeting of shareholders on June, 10, 2022. Aleksandr Khrushch, First deputy CEO, Economics and finance director, was elected the Board’s Chairman. Mr. Khrushch has been a member of the Board of Directors since 2014 and that of the Management Boards since 2015. The Board of Directors applied statuses of independent directors and elected the Audit committee, the Nomination and remuneration committee and their Chairmen.
The office of the private security organisation Seligdar Security was officially opened in Aldan town. Seligdar Security provides services for assets and property safeguarding, access control and in-site security at the Seligdar’s operational sites.
Evgeniy Kolesov was appointed as President of Rusolovo PJSC from June 1, 2022, by the decision of the Board of Directors.
Seligdar held its Investor Day at Moscow Exchange on July 14, 2022.
Seligdar announced operating results for 1H2022 based on management data. Gold production of the Holding’s companies showed a 12% growth year-on-year and comprised 2,500 kg. Production of tin in concentrate totalled 1,254 tonnes.
Seligdar PJSC’s shares admitted to Moscow Exchange Level 1 quotation list.
Production of tungsten in concentrate started at the Solnechny complex of the tin division. Scheelite flotation facility was put into pilot operations at the Solnechnaya processing plant in June; first thousands of kilogrammes of tungsten in concentrate were extracted. The new technology will allow producing of the concentrate with not less than 40% tungsten content. The product will be sold in full in the domestic market of the Russian Federation.
Two new dormitories for 150 beds were commissioned at the Nizhne-Yakokitskiy production complex in Yakutia.
The Labun street was paved with asphalt under the agreement with the municipal institution ‘Aldan town’ of the Aldan district of the Republic of Sakha (Yakutia).
On August 12, 2022, Seligdar became the sole member of Yurskiy LLC having purchased 30% in it. Yurskiy LLC holds licences for Orto-Sala River, Yurskiy Stream and Timpton (Kolbochi allotment) alluvial deposits in the Republic of Sakha (Yakutia). Gold reserves of these deposits amount to 4 tonnes.
Seligdar published the interim IFRS consolidated financial statements for the six months ended June 30, 2022. Consolidated revenue of Seligdar PJSC comprised 11.6 billion Russian roubles, 2% up compared to the same period of 2021. EBITDA amounted to 5.7 billion Russian roubles, EBITDA margin was 49%.
As part of reforestation activities, Seligdar planted over 440 thousand seedlings on the area of 217 ha in the Neryungrinskiy district of the Republic of Sakha. The total cost of reforestation works amounted to 56 million Russian roubles.
Seligdar released 70 thousand juvenile graylings into Baikal Lake as a part of the programme of restoration of water biological resources and ecosystem of the Lake.
Rusolovo PJSC and VNIPIpromtekhnologii JSC (Design & Survey and Research & Development Institute of Industrial Technology of ARMZ Uranium Holding, Mining division of the Rosatom State Corporation) agreed on cooperation to design mineral raw materials production facilities, which will allow Rusolovo to solve issues of rational subsoil use more efficiently.
Rusolovo and the Federal Service for Supervision of Natural Resources entered into an agreement on consultation during the implementation of investment projects. The subject of agreement is a pilot project to develop the mechanisms necessary for the interaction of Rosprirodnadzor and its subordinate organisations with legal entities and individual entrepreneurs, conducting the necessary examinations, assays and inspections as a part of the experiment.
At St. Petersburg International Economic Forum Svetlana Radionova, Head of Russian Federal Service for the Supervision of Natural Resources, noted: ‘One of the most successful examples of our cooperation is Rusolovo. Their approach is very serious, they want to be a long-term player and to be a participant in international markets, they consider ecology a priority’.
Seligdar became finalist in three categories at the 18th Mining and Exploration Forum MINEX Russia 2022 and first at the IV International Film Festival MineMovie in the category ‘Chronicles of mining’.
Rating Agency Expert RA has assigned expected credit rating of ‘ruA+ (EXP)’ to the bonds of 001P series planned to be issued by Seligdar PJSC.
Seligdar was included in the category I ‘high level’ of the first Russian ESG index of companies prepared by RBC and National Credit Ratings (NCR) agency.
Tin Mining Company JSC (a subsidiary of Rusolovo PJSC) put into pilot operations its own laboratory of biological testing. The aim of the laboratory’s work is to conduct ecological monitoring related to testing for toxicity of samples taken from technogenic and natural environment. The Company also plans to conduct eco-monitoring at other sites of Rusolovo situated in the Khabarovsk region.
Rusolovo won an auction for the right to develop the Oktyabrskoye ore tin deposit situated in the Khabarovsk region in close proximity to the Festivalnoye deposit located to the West, the latter is being developed by Tin Mining Company JSC (a subsidiary of Rusolovo PJSC). Ore minerals are represented by cassiterite, stannite, stannic oxide hydrates, chalcopyrite, wolframite, scheelite, arsenopyrite, and secondary copper minerals.
Seligdar became a general sponsor of the All-Russia Cross-Country Skiing Competition in Aldan town.
Seligdar received an award in the category ‘Best Annual Report of a Company with Market Capitalisation of 40 to 200 billion Russian roubles’ in the XXVth Anniversary Annual Report Competition organised by the Moscow Exchange.
New sports and health centre was officially opened at the Seligdar PJSC’s headquarters in Aldan town.
Seligdar PJSC announced operating results for 9M2022 based on management data. Gold production by the Holding’s companies comprised 5,697 kg. Production of tin in concentrate amounted to 1,907 tonnes.
Seligdar has placed bonds for 10 billion Russian roubles on the Moscow Exchange. The par value of a bond is 1,000 Russian roubles. The bonds have a semi-annual coupon; the coupon rate is 10.80%.
Seligdar PJSC and the Federal Service for Supervision of Natural Resources signed an agreement on pilot project implementation. The agreement envisages consultations of Seligdar by Rosprirodnadzor on the compliance of its operations, planned or carried out during the implementation of investment projects, with the requirements of the legislation of the Russian Federation in the field of environmental protection and use of natural resources.
Seligdar in cooperation with Informzaschita Company integrated the import-independent system for auditing and monitoring information resources Makves DCAP into the IT infrastructure.
Seligdar and Rusolovo entered the 10 best employers among mining companies according to RBC rating.
Seligdar and Rusolovo entered the 100 largest Russian public companies by trading volume.
Seligdar PJSC published the interim IFRS consolidated financial statements for the nine months ended September 30, 2022. Consolidated revenue comprised 20.7 billion Russian roubles compared to 24.1 billion Russian roubles year earlier. EBITDA amounted to 7.6 billion Russian roubles. EBITDA margin was 37% for 9M2022.
National Rating Agency affirmed credit rating on Seligdar PJSC and its subsidiary Seligdar Gold JSC at AA-|ru| in Russian rating national scale with ‘stable’ outlook.
Rating Agency Expert RA affirmed the credit ratings on Seligdar PJSC and its subsidiary Seligdar Gold JSC at ruA+ with ‘stable’ outlook.
Rusolovo PJSC put into pilot operations modular ore separating complex at the Molodezhny mine. The XRT sorting technology is expected to increase production volumes due to possibility to determine and separate ore with high metal grade from waste rock.
Rusolovo and Solnechny industrial college signed an agreement to introduce a programme for profession of Separator Operator that will be taught to current employees and to students, with a post-education job opportunity in the Company. The study programme is related to the installation of the modular ore separating complex into operations at Tin Mining Company JSC and Pravourmiyskoye LLC and demand for workers with certain skills.
A dormitory for 75 beds were commissioned at the Ryabinovy production complex in the Republic of Sakha (Yakutia).
Two new dormitories for 110 beds were commissioned at the Poisk production complex in the Altai region.
Samples were taken at Pyrkakay stockworks. They were sent for further studies.
The Seligdar’s access control points in Aldan town of the Republic of Sakha (Yakutia) were changed with new ones equipped with CCTV (video surveillance) and screening ramps.
The design documentation for the construction of gold skarn ore processing plant at Poisk production complex in the Altay region received a positive review of State Expertise.
Rating agency NCR (National Credit Ratings) affirmed the credit rating of Seligdar PJSC at A+.ru with ‘stable’ outlook.
Seligdar confirmed its ‘silver status’ in the Forbes rating of best employers.
At the Extraordinary General Meeting of Shareholders of Seligdar PJSC held in the form of absentee voting on December 14, 2022, the shareholders decided to increase the number of members of the Board of Directors to 12. The decision derives from the growth of the Holding's business, increase in the number of the Seligdar PJSC’s shareholders (more than 70 thousand shareholder accounts) and the expansion of the Holding's corporate structure.
Seligdar PJSC improved its position in the annual WWF Environmental Transparency Rating for Mining and Metal Companies of Russia and was ranked 16th among 39 participants having jumped two positions higher compared to the 2021 rating. The Seligdar rating score grew by 14% and comprised 1.227, more than 40% higher than the industry average of 0.85.
Seligdar was assigned A level ‘Best corporate ESG practice in the Russian Federation’ in the Rating of Sustainable corporate governance, designed by the Agency of corporate development Da-Strategiya.
The positive review of Glavgosexpertiza (‘Main Department of State Expertise’) for the project of construction of gold processing plant at the new Khvoynoye mining and processing complex was obtained.
Seligdar commissioned the largest in Russia automated laboratory complex in the Republic of Sakha (Yakutia). The Seligdar’s new laboratory is equipped with the cutting-edge machinery including two Herzog industrial robots that automatically split, crush and pulverize samples. These are the first laboratory robots of this class in the Republic of Sakha (Yakutia). The capacity of the first line is 500 samples per day, the laboratory’s area is 3,000 square meters.
By the Decree of the Head of the Republic of Sakha (Yakutia), Seligdar is conferred a National Award in Material Production for commissioning of sulphide ore preliminary thermal treatment facility at the Samolazovskiy production complex. The facility is unique in terms of ability to increase gold recovery from 20-30% to 90%.
The office of the private security organisation Rusolovo Security was opened in Solnechny settlement. Rusolovo Security provides services for assets and property safeguarding, access control and in-site security at the Rusolovo’s operational sites.
Rusolovo PJSC put into operations mine water treatment station. Its work is based on new technologies developed by the specialists of the Division of science and technology. The main features of the modernised mine water treatment station is full automation of processes of delivery and further supply of lime milk, new system of uninterrupted work of the station regardless environmental or technogenic situation. Currently the modernised mine water treatment station is installed at the Tin Mining Company (subsidiary of Rusolovo PJSC) operational sites.
Rusolovo PJSC and North Caucasus Institute of Mining and Metallurgy entered into agreement on strategic cooperation. Joint educational and scientific research projects, cooperation in specialists education and the Company’s employees training are being planned.
The existent access control points were changed with new ones equipped with CCTV (video surveillance) and screening ramps at Poisk production complex in the Altai region.
Seligdar reached new heights: gold production by the Holding’s companies exceeded 7.5 tonnes having increased by 6% compared to 2021. Production of tin in concentrate remained at the level of the previous year and totalled 2.9 thousand tonnes. Production of tungsten in concentrate grew by 72% against 2021 and reached 81 tonnes. Production of copper in concentrate increased 2.5-fold up to 916 tonnes.
* Russian classification compliant with the State Commission on Mineral Reserves (GKZ) reporting system
White Gold LLC, a joint venture between Gold Asset Management LLC, a company of Seligdar Holding, and RT-Business Development LLC, won the auction for the Kyuchus gold ore deposit located in the Republic of Sakha (Yakutia). With balance reserves of 175.3 tonnes of gold and resources of 250 tonnes, its license cost at the auction amounted to 7.735 billion Russian roubles.
Rusolovo PJSC, the parent company of tin division, set up a science and technology department, which launched R&D activities.
Following the merger with TREBBIYA LLC and BVT KHAUS LLC, Maximus LLC became the controlling shareholder of Seligdar PJSC. The ownership of Maximus LLC in the share capital of Seligdar PJSC soared from 19.72% to 42.44%, with the former’s ownership of ordinary shares rising from 23.24% to 50.0001%.
Operations started at the Orto-Sala alluvial deposit.
Rosgeologia JSC and Seligdar PJSC signed an agreement on joint geological survey and exploration at the Khokhoy ore field located in the Aldan district of the Republic of Sakha (Yakutia).
Ordinary shares of Seligdar were included in SMID Index of Moscow Exchange.
Seligdar got the State approval for the feasibility study of reserve estimation at the Khvoynoye deposit. The Company plans to build a gold processing plant for deposit development.
Seligdar recovered first 1.5 kg of gold at the Samolazovskoye deposit using the new technology of thermal ore treatment. A two-year period of stockpile bio-irrigation in the framework of the pilot heap bioleaching technology testing was completed, and the results were summed up.
Seligdar’s subsidiary Rusolovo won an auction for the subsoil license for geological survey, exploration, and mining of tin, tungsten, zinc, copper ores, gold and silver at the Pyrkakay stockworks deposit in the Chukotka Autonomous Okrug, one of the largest tin deposits in Russia.
Tin division companies, the plant of Pravourmiyskoye LLC and Solnechnaya Processing Plant of Tin Mining Company JSC went on year-round operations for the first time and did not stop operations during the winter of 2018–2019.
POISK LLC , a subsidiary of Seligdar, won the annual regional contest for the Best Industrial Enterprise of Altai Region 2018.
Seligdar was included in the World Wildlife Fund Transparency Rating of Environmental Responsibility of Mining and Metal Companies of Russia for the first time.
JSC Seligdar Gold won the auction for a lisence to explore and mine at the Yasnaya Polyana deposit.
The Ryabinovy gold processing plant produced first ton of gold.
The season end followed the research on bioleaching for dump processing at the Samolazovskoye deposit. The new experimental method showed a positive trend in the bioliberation of refractory gold.
New technological schemes of ore processing of the Tin Mining Company’s deposits obtained prelimiary assessment.
Seligdar signed an agreement with the Government of the Republic of Sakha(Yakutia) on cooperation in the field of realization of the project “Local Personnel into Industry” for 2018–2022.
Rusolovo became a resident of “Advanced Economic Zone of Komsomolsk”.
Seligdar commissioned a gold processing plant at the Ryabinovoye deposit, which became the largest one of the kind in the Republic of Sakha (Yakutia) commissioned in the last 30 years. The plant was a full-cycle one with the operations of ore crushing, comminuting, screening and thickening, carbon–in–leach and electrowinning.
At the Samolazovskoye deposit, a pilot bioleaching facility was commissioned that marked the launch of the project of the deposit development and its industrial exploitation.
The review of mining project parameters of the Nizhne-Yakokitskoye Ore Field was finished in December 2017, and the gold reserves increased by 20 tonnes.
Seligdar finished renewal of the Festivalny Mining and Processing Plant and installed an alternative scheme of ore hoisting. The renewal allowed for a significant increase in efficiency and a time reduction related to hoisting due to the 2 times shorter hoisting scheme.
In May 2016, Seligdar reopened the Molodezhny underground mine after long conservation and repair works at the Festivalnoye tin deposit (Tin Mining Company LLC). On September 14, Seligdar commissioned Solnechnaya tin ore processing plant with a design capacity of 400 kt of ore per year and production up to 1.5 – 2 kt of tin in concentrate.
Seligdar initiated research of heap bioleachning technology for gold recovery at the Samolazovskoye deposit.
On December 16, 2016, the ordinary and preferred shares of Seligdar were included in the Broad Market Index of Moscow Exchange composed of the top 100 securities selected by the criteria of liquidity, capitalization and free-float. The Seligdar shares were also included in the Metals and Mining Index and Second-Tier Stock Index of Moscow Exchange.
In July 2015, Seligdar started construction of a gold processing plant with a design ore processing capacity of 1 million tons per year at the Ryabinovy site. The plant was to increase the gold extraction grade compared to the heap leaching technology and allowed for the year-round production.
In December 2015, Seligdar acquired a license for the Purikanskaya area with prognostic gold resources of 6.8 tons situated close to the Yakut production complex. The proximity to the existing sites had a beneficial effect of synergy.
In 2012, the Holding started operations at two promising sites of the Lunnoe and Podgolechnoye deposits with total gold reserves of 3.4 tons. Seligdar constructed a separate ore processing facility at the Verkhneye deposit of the Mezhsopochny production site having invested in projects 1,792 million rubles.
Seligdar’s subsidiary Artel Starateley “Sininda-1” won auctions for 11 placer gold deposits with total reserve potential of 330 kg conducted by the Department of subsoil use for Far Eastern Federal District for the Republic of Buryatia (Buryatnedra).
In 2012, Micon International issued the audit review of the mineral resources and gold reserves of the Nizhne-Yakokitskoye ore field and the Ryabinovoye deposit both situated in the Republic of Sakha (Yakutia) according the JORC code (subsoil licensee was JSC Seligdar Gold).
In 2006, Seligdar established a new mining company – Seligdar Gold JSC aimed at exploration and development of the Nizhne-Yakokitskoye ore field (theRepublic of Sakha). The year resulted in increase of production capacity, and new mining and transport equipment was purchased.
In 2006, Seligdar Gold and Atomredmetzoloto signed an agreement and established a joint venture for exploration of the Lunnoe deposit. The Lunnoye deposit is a part of Elkon gorst, situated in the Republic of Sakha, Russia, which is one of the largest world-known uranium deposit (U). Seligdar Gold became the operator of the joint venture.
In 1996, Seligdar started pilot gold mining from ore dumps at the Lopukhovskiy ore deposit in the Republic of Sakha (Yakutia). The heap leaching project demanded large financial, material and human investments. The problem was that this technology was not the traditional one and had not been exploited in the climate of the Republic of Sakha (Yakutia) before. During the pilot gold minig the Association gained a wide experience in production technics, technology deployment and attracted high-level specialists.
In 1998, Seligdar conducted its own geological study and acquired the Samolazovskoye ore deposit with gold reserves of 10 tons. The recovery of gold through heap leaching showed a significant reduction in costs compared to use of traditional technology.