The year gone by became an important milestone in the GV Gold development, marked with a number of important events and achievements. The Company celebrated its 20-th anniversary and carried on with its development strategy aimed at becoming the TOP-5 Russian gold mining enterprise. In 9 months, GV Gold reached the previous year’s production level of 220 koz, and we are surely moving towards achievement of the target of 280-300 koz by the end of 2018.
We are working on improvement of the operational efficiency in all business units. Our strategic projects commissioned last year — the Taryn Mine and the Ugakhan Mine, as well as our flagship asset — the Golets Vysochaishy Mine, act as the engine of our growth.
In 2018, the Company shows strong operational financial results against the background of successful implementation of our strategic initiatives and consecutive steps intended for bringing GV Gold to the TOP of the Russian gold mining companies. The Company is moving along the established growth trajectory. As the result, the Company’s revenue for 6 months reached the record-breaking level of USD 146 million, having increased by 74% y-o-y.
GV Gold supports social and economic development of the regions where it operates. The relevant cooperation agreements are signed every year; this document determines the main trends of cooperation in the area of the social programs implementation.
Modern business is becoming akin to a blogger — less and less of internal information about the Company’s activity remains non-public. While forming the news agenda, we are more focused on the change of external context around the business, as the dynamic demand for information serves as the catalyst for the PR-service work.
Successful commissioning of the new enterprises serves as a proof of employees’ high competence, each of them makes a contribution into the result achievement. Today the Company staff totals 2,500 people. We provide the best conditions for work and accommodation. Modern and comfortable mine camps with the Internet access and cell phone coverage are constructed at all our production facilities. Since 2017, business units of the Company transited to the rotational work schedule.
I am convinced, that high production results are ensured with the quality control of the Company’s own processes, but to a high extent the result depends on a transparent and efficient chain of supplies established with our partners. Perhaps, we impose quite strict requirements to our suppliers, but we do it consciously. For us, ensuring a responsible attitude to the terms of the agreement and execution of all delivery terms is the key to maintenance of the core production cycle at the required level.
