Media

A Russian gold and tin producer PJSC Seligdar (Seligdar, Holding or Company, MOEX: SELG, SELGP) announces operating results for the six months of 2021. Gold production by companies of the Seligdar Holding amounted to 2,238 kg. The production of tin in concentrate reached 1,386 tons. The total revenue from the sales of metals amounted to RUB 10.5 billion.

Gold Division 

• Volume of the run-of-mine material amounted to 15.4 million m³ in 1H2021 against 14.8 million m³ in the same period of the previous year.
• Volume of mined ore reached 9.8 million tons in 1H2021 compared to 5.6 million tons year-on-year. The growth was attributable to changes in the mining and geological conditions of deposits while the volume of mining operations was maintained at the same level.
• Gold production increased by 7% year-on-year and totaled 2,238 kg in the six months 2021. In the second quarter of 2021, Seligdar produced 1,514 kg of gold, a 13% increase compared to the same period of the previous year.
• The volume of gold sales amounted to 1,858 kg in 1H2021 against 2,308 kg a year earlier. The volume of gold sales excluding gold produced under contract agreements (not recorded in the IFRS consolidated financial statements) amounted to 1,816 kg in 1H2021 against 2,217 kg in 2020. The decrease in gold sales along with an increase in production volumes is driven by the sales policy and the gold market price fluctuations.

Tin Division

• Volume of mined ore amounted to 268 thousand tons in 1H2021 compared to 228 thousand tons in the previous year.
• Ore procession grew by 17% your-on-year and comprised 267 thousand tons.
• Production of tin in concentrate in 1H2021 increased by 19% to 1,386 tons y-o-y.
• Production of tungsten in concentrate amounted to 24 tons compared to 42 tons in 1H2020.
• Production of copper in concentrate amounted to 173 tons in 1H2021.

Sales

• Seligdar Holding’s revenue from gold sales amounted to RUB 7.9 billion for the six months of 2021 against RUB 8.5 billion a year earlier. The decrease is due to the reduction in the volume of sales, the average realized gold price increased by 16% year-on-year.
• Revenue from gold sales excluding gold produced under contract agreements (not recorded in the IFRS consolidated financial statements) amounted to RUB 7.8 billion in 1H2021 against RUB 8.2 billion a year earlier.
• Revenue from sales of tin, tungsten and copper concentrate increased more than twice in 1H2021 compared to the same period of the previous year and amounted to RUB 2.6 billion.
• Total revenue from sales of gold; tin, tungsten and copper concentrates amounted to RUB 10.5 billion in 1H2021, which is 9% more than a year earlier. 

Gold Division Results

Note: volume of run-of-mine material in 1H2020 was adjusted and includes results of Nirungan alluvial mining.

Tin Division Results