Media

JANUARY

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.

 

FEBRUARY

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.

 

MARCH

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.

APRIL

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%.

 

MAY

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.

 

JUNE

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.

 

JULY

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.

 

AUGUST

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.

 

SEPTEMBER

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.

 

OCTOBER

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.

 

NOVEMBER

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.

 

DECEMBER

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.