24.10.2025
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GOLD DIVISION [1]
• Run-of-mine material for the nine months of 2025 increased by 14% year-on-year to 19.1 million m³, driven by the commencement of stripping and preparatory works at the Verkhneye and Khvoynoye deposits (Nizhne-Yakokitskiy production complex) and at the Novy open pit of the Ryabinovoye deposit (Ryabinovy production complex).
• Ore mined amounted to 5.4 million tonnes, compared with 6.0 million tonnes in the same period of the previous year. Existing ore stockpiles enabled an increase in gold output.
• Doré gold production grew by 8% year-on-year to 6,148 kg, while silver production in doré alloy totalled 4,482 kg.
• Gold sales amounted to 6,243 kg, up 14% year-on-year. Throughout the first three quarters of 2025, Seligdar conducted almost no sales of third-party gold.
TIN DIVISION
• Ore mined during the nine months of 2025 increased by 20% year-on-year to 927 thousand tonnes, supported by upgrades to drilling rigs and the underground mining equipment fleet.
• Ore processed, including pre-concentration through XRT-sorting, reached 888 thousand tonnes, up 20% year-on-year, driven by stable operation of XRT sorting units at both production complexes.
• Tin-in-concentrate production rose by 48% year-on-year to 2,597 tonnes.
• Copper-in-concentrate production increased by 21% compared with the same period in 2024, reaching 1,734 tonnes.
• Tungsten-in-concentrate output surged by 90% year-on-year to 95 tonnes, exceeding last year’s annual production by 39%, supported by full ramp-up of the scheelite flotation unit at the Solnechny processing plant.
SALES
• Revenue from gold sales for the nine months of 2025 amounted to 54.5 billion Russian roubles, up 47% year-on-year, reflecting both a 14% increase in sales volumes and a 29% rise in the average realised gold price.
• Revenue from sales of tin, tungsten, and copper concentrates grew by 27% year-on-year to 6.5 billion Russian roubles (versus 5.1 billion Russian roubles a year earlier).
• Total revenue from gold and concentrate sales for the nine months of 2025 reached 61.0 billion Russian roubles, representing a 45% increase year-on-year.
GOLD DIVISION RESULTS
|
9М2024 |
9М2025 |
Change [2] |
|
|
Run-of-mine material, million m³ |
16.7 |
19.1 |
14% |
|
Ore mined, million tonnes |
6.0 |
5.4 |
-10% |
|
Doré gold produced, kg |
5,690 |
6,148 |
8% |
|
Doré gold produced, koz |
183 |
198 |
8% |
|
Gold sold, recorded in the IFRS consolidated financial statements, kg |
5,486 |
6,247 |
14% |
|
9М2024 |
9М2025 |
Change [3] |
|
|
Ore mined, thousand tonnes |
773 |
927 |
20% |
|
Ore processed (including preliminary treatment at the XRT sorting facility), thousand tonnes |
739 |
888 |
20% |
|
Tin in concentrate produced, tonnes |
1,751 |
2,597 |
48% |
|
Tungsten in concentrate produced, tonnes |
1,435 |
1,734 |
21% |
|
Copper in concentrate produced, tonnes |
50 |
95 |
90% |
Seligdar PJSC is one of Russia’s leading gold producers with over 50 years of experience in the mining sector. The Company’s primary mined metals include gold and tin. Seligdar has gold reserves of 285 tonnes and tin reserves of 412 thousand tonnes. The Holding Group's operations are located across seven Russian regions, including the Republic of Sakha (Yakutia), Republic of Buryatia, Altai, Orenburg, Irkutsk, Khabarovsk and Chukotka regions.
[1] In August 2024, the contract agreement for mining operations at the Lunnoye deposit, along with related service agreements, was completed. The financial results of Lunnoye JSC have not been included in the consolidated financial statements of Seligdar PJSC. However, ore mining and gold production under the contract were previously reflected in operational results. For consistency and comparability, retrospective data for the first half of 2024 have been restated to exclude production from the Lunnoye deposit and may differ from the figures disclosed in the October 22, 2024 press release.
[2] Minor discrepancies in percentage changes may occur due to rounding.
[3] Minor discrepancies in percentage changes may occur due to rounding.