Polyus Gold Releases Operating Results for 9 Months
OREANDA-NEWS. Polyus Gold International Limited, the largest gold producer in Russia, releases its operating results for the 9 months ended 30 September 2013.
The Company deeply regrets that it has to report two work-related fatalities in Q3 2013 as a result of a truck overturning while crossing a river during flooding. The accident took place at the alluvial operations in the Irkutsk region, thus bringing the number of work-related fatalities in the reporting period to three. An action plan based on the root-cause analysis is to be rolled out during Q4 2013 to prevent such accidents in the future.
Four lost time injuries (LTI’s) were reported in Q3 2013. In the first 9 months of 2013, the LTI frequency rate was 0.11, down from 0.16 in the first 9 months of 2012.
The Company continues to introduce measures to improve health and safety performance across its operations. A medical emergency response and minimum occupational health standard has been implemented across the Company’s operations. Development of a minimum standard for personal protective equipment and work uniform has been started and is expected to be completed by the end of 2013.
In the first 9 months of 2013, the Company produced 1,185 thousand ounces of refined gold from continuing operations, a 6% increase compared to 1,119 thousand ounces a year ago. The growth in total production was achieved as a result of higher gold production at Olimpiada, Titimukhta and Verninskoye. In Q3 2013, the Company produced 467 thousand ounces of refined gold, a 4% increase to the 450 thousand ounces produced in Q3 2012.
Polyus Gold moved 49.4 million cubic meters of rock in total during the first 9 months of 2013 which is in line with the same period of 2012. In Q3 2013, the Company’s mines moved 16.7 million cubic meters of rock in total, compared to 17.0 million cubic meters a year ago. The reduction was mainly due to lower mining volumes at Blagodatnoye and Kuranakh.
The average stripping ratio for the Company in the 9 months of 2013 decreased by 20% year-on-year to 1.82 m?/t (9 months of 2012: 2.27 m3/t). In Q3 2013, the average stripping ratio for the Company was 1.69 compared to 2.70 in Q3 2012.
A total of 22.3 million tonnes of ore was mined in the first 9 months of 2013, an increase of 21% compared to the 9 months of 2012 (18.5 million tonnes). The increase was mainly due to higher ore production at Olimpiada and Verninskoye. In Q3 2013, a total of 8.0 million tonnes of ore were mined, a 43% increase over the 5.6 million tonnes mined in Q3 2012 mainly due to increased mining at Verninskoye.
In the first 9 months of 2013, the Company processed 16.7 million tonnes of ore, which is 4% more than a year ago. This was due to increased processing at Blagodatnoye, Titimukhta and Verninskoye. In Q3 2013, the Company’s mines processed 5.8 million tonnes of ore compared to 5.6 million tonnes in Q3 2012.
Комментарии