OREANDA-NEWS. January 30, 2013. Polyus Gold International Limited (LSE - PGIL, OTC (US) - PLZLY, “PGIL”, “Polyus Gold” or the “Company”), the largest gold producer in Russia, releases its preliminary operating results for the full year ended 31 December 2012, reported the press-centre of Polyus Gold.

Highlights
Production of refined gold increased by 12% to a record 1.68 million ounces (2011: 1.50 million ounces) and exceeded 2012 production target by 5%

Fifth consecutive year of growth in gold production with outstanding performance at the Company’s largest Russian mines

2012 gold sales estimated to reach USD 2.8 billion, a 22% increase compared to USD 2.3 billion a year ago

Forecast refined gold production for 2013 set between 1.7 and 1.8 million ounces (1.59 - 1.68 million ounces excluding assets in Kazakhstan).

German Pikhoya, Chief Executive Officer of Polyus Gold, commented:

“I am pleased to present another set of target-beating operating results delivered by Polyus Gold. With the fifth consecutive year of growth in production, we have demonstrated our ability to consistently deliver on the ambitious growth plans we set out.

The record double-digit growth rate achieved in 2012 came as a result of continued investment and optimisation of our mines, delivering significant increases in production at all of our Russian operations, with an exceptional performance delivered by our largest mines, Olimpiada and Blagodatnoye, and steady improvements at Kuranakh.

2012 also saw good progress at our development projects, and we are looking forward to seeing these become a new generation of mines, starting with the world-class Natalka mine.”