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GV Gold and the Government of Irkutsk Region Signed the Social and Economic Partnership Agreement

The Agreement was signed by the First Deputy CEO of GV Gold Vladislav Barshinov and the First Deputy Governor of the Irkutsk Region Ruslan Bolotov. In accordance with the terms of the Agreement, practically all funds would be used for target financing and development of social programs in the Bodaibo Area. In the course of the meeting, the parties also discussed the results and the plans of the GV Gold’s activity in the Irkutsk Region, as well as possible trends for cooperation of the Company and the Regional Government.

— Social and economic development of the regions where we operate is the top-priority objective for GV Gold. The Bodaibo Area hosts the Company’s strategic assets, here we develop our current productive capacities, acquire new mining licenses. The Company is extremely interested in the welfare of Bodaibo and the area. We are always open for any dialogue and cooperation for the benefit of development of the entire Irkutsk Region, - noted Vladislav Barshinov.

— The Bodaibo Area represents a strategic territory. We are interested not only in development of the industry here, but also in engagement of local workers. And the human resources management is impossible without the social aspect and the infrastructure. That’s why we draft long term plans within the framework of the five-year region development plan. The objective set with the head of the region in regard to the state plan is being implemented, - emphasized Ruslan Bolotov. 

Company Profile

GV Gold (Vysochaishy, PJSC) is one of the largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2018, the Company produced 304 koz of gold. For the second year in a row, the Company demonstrates a double-digit growth of production, unprecedented in the industry. Compared to 2016, it practically doubled this index.

Its key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The Company operates four mines with a total capacity of 8 Mtpa of ore and holds 20 mining and exploration licenses. GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 4.4 Moz and 7.0 Moz, respectively.

The Company adheres to high corporate governance standards and has a transparent ownership structure, with BlackRock among its shareholders (17.99%).

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Foto:  First Deputy Governor of the Irkutsk Region Ruslan Bolotov and First Deputy CEO of GV Gold Vladislav Barshinov