OJSC «Seligdar»

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Gold mining holding Seligdar was established in 2008 on the base of the assets of the same name placer miner guild together with Russian Funds Investment Group. On gold mining volumes enters into TOP-15 of the largest gold mining companies in Russia. Holding includes 8 enterprises in Yakutia, Altai Krai, Buryatiya and Orenburg region. It has licenses on developing and prospecting of 17 ore gold deposits (7 of them are mined) and 2 alluvial gold deposits. Resource base of the holding (C1+C2) is about 100 tons of gold that provides mining for the nearest 20 years. The total amount of investments during five years is over 150 million dollars. Today Seligdar OJSC and its affiliated companies produce over 3 tons of gold.

Seligdar OJSC has extensive experience of implementing mining facility construction and startup projects, exploring and developing gold deposits. Starting from 1996, the Holding (initially – the Seligdar placer miner guild) has been successfully employing heap leaching technology of gold extraction. This method was for the first time applied in the climatic conditions of Yakutia. In the process of pilot operations the Guild has accumulated extensive experience of application of this new technology and attracted highly qualified experts from industry-wide. Gold extraction by heap leaching method allowed to achieve substantially lower prime cost. Therefore Seligdar almost completely switched to ore deposits.

Seligdar always looked beyond the horizon. Here they think big for decennary. Less periods are not allowed, says experts. It takes 5 years to put a deposit into operation from its exploration till development. So there should be long-term plans of development to maintain the positions reached in gold mining. Figures show that Seligdar is constantly in motion, increases assets and volumes of processing and mining.

In 2006 the project of development of the Nizhneyakokitskoye deposit site was initiated. Gold extraction facility (GIF) with the output of 2 thousand tons of gold per year was constructed. In June 2008, commercial operation of the site started and in 2011 the production volume was about 1,5 tons of gold.

Simultaneously the company bought a license for Ryabinovoye deposit development. In 2013 pilot operations will be initiated and in 2015 factory started. Factory technology is selected not by chance. Laboratory studies have shown that ores of Ryabinovoye are more complex and by heap leaching technology only 50% of gold can be extracted. Factory technology can increase output of metal to 90%. Besides, the construction of factory will allow permitting year-round cycle of processing and the volumes of ore processing will achieve one million tons a year.

At the same time Seligdar together with Rusatom began to develop gold-uranium deposit Lunnoye on South Yakutia. Its gold reserves will provide mining for the nearest 7 years. Further geological surveying, on expert’s opinion, will extend lifetime of the deposit.

Following the auction in April, 2012 Seligdar OJSC was qualified to perform geological exploration and development on Podgolechnoye deposit located in Aldan region. Commercial reserves of the deposit are 500 kg of gold. In 2012 it is planned to produce first kilograms of gold here. Planned period of operation of Podgolechnoye – 10 years. On the area of 63 hectares the pit, heap leaching ground, hydrometallurgical plant, neutralization site and warehouse of fuels and lubricants will be constructed.

Seligdar holding company has many years of experience in heap leaching and can provide the minimum impact on the environment. For assessment of the existing impact on the environment oin the territory of the deposit engineering and ecological researches were carried out. The assessment of impact on the environment SingularBuryatiya Pluradefined that parameters of maximum permissible emissions lie below standards, a damage for flora and fauna and also for the atmosphere is insignificant. Among others, being a socially-orientated enterprise Seligdar intends to repair and maintain in good condition the bridge to Yakokut settlement which is near Podgolechnoye deposit.

In 2012 Seligdar puts into operation a new facility on Verkhnee deposit (Nizhneyakokitskoye ore field). The facility will increase the level of processing of complex ores. Test drive, according to specialists, will produce 10-15 thousand tons of ore and 300 thousand tons of ore in 2013. Operating of the facility the existing infrastructure of heap leaching site of Mezhsopochny plant will be used. It consists of a field camp with complex of buildings and civil engineering, subsidiary and service facilities, technological objects of heap leaching, facilities for field development. Due to the new method production costs and cost value of gold will be reduced. In addition, the percent of gold extraction increases that leads to gold volume growth to 200 kg a year.

The next phase of innovation for Seligdar is the processing of primary ores. They are more solid and difficult to extract and that is more sophisticated technology than factory one. Statistics show that resources all over the world are being depleted, oxidized ores have almost perfected, so gold mining companies go to primary ores development.

Samolazovskoye deposit will become an experimental site for Seligdar where oxidized ores were processed successfully by heap leaching. Presently it is planned to conduct exploration, feasibility study of exploratory conditions and calculation of reserves so that begin to use a new technology in 2016. According to experts, processing of primary ores can give 10 tons of gold.

Subsidiary companies located in Burat Republic, Altai and Orenburg region also contribute to the treasury of Seligdar. They entered into the holding with their partner and owner Russian Funds Investment Group. Nowadays it is a priority task to bring the enterprises to profitable level.

Sergey Tatarinov, Director General of Seligdar OJSC:
“We aim to increase the resource base. We conduct our own searches, buy deposits on auctions. Our work is systematic, we invest much in exploration and it gives the results firmly. We are permanently searching for new methods and decisions. Of course, you can live good today without long-term vision but soon it would lead to a failure. It is much better to face difficulties but to have strong perspective in the future”.

In 2011 ordinary shares of the company were listed on the MICEX stock market and were included in the quoted list "A" of the first level. At the same time Seligdar OJSC awarded diplomas and award of Sberbank of Russia for the most perspective corporate strategy.

The appreciation and results of the company’s activity show systematic work of all holding stuff. And it is not the limit. Due to new projects Seligdar Holding intends to increase mining to 5 tons of gold a year that will allow them to enter TOP-10 of the largest gold mining companies in Russia.