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

GV Gold (Vysochaishy, PJSC) and the Government of the Irkutsk Region signed the Social and Economic Partnership Agreement for RUB 20 M for 2022.

It was signed at a business meeting of Igor Kobzev, the Governor of the Irkutsk Region, and Sergey Gostev, the CEO of GV Gold, in Moscow. This’s a supplementary agreement to the existing one of 2013 and it documented the main areas of cooperation in respect of support for the social and economic programs being implemented in the Irkutsk Region.

The parties agreed that the funds will be channeled for target financing and development of the important social projects of culture and sports in the Bodaibo District. In particular, the Сompany will co-finance the repair and installation works of a functional hall of the "Cultural and recreational center in Bodaibo and the Region" Municipal Public Institution. Funds are also provided for the purchase of equipment and furniture to create the "Point of Growth" information and educational environment on the basis of secondary schools in the settlements of Kropotkin and Artemovskiy. Keeping with the theme of educational projects supporting, this year GV Gold will sponsor the Days of the Irkutsk Region in the Federation Council of the Federal Assembly of the Russian Federation and the "Open Innovations" project under the auspices of the Skolkovo Foundation in Irkutsk.

“Over the years, GV Gold has been our reliable business partner in terms of forward and support of social and economic development of the region, especially of the Bodaibo District. Today we've signed a partnership agreement for 2022. As provided under this agreement, most of the funds will be used to implement the projects of culture and sports and to support the most vulnerable social groups”, — said Igor Kobzev.

“GV Gold has been building long-term partnership relations in the regions where it operates. The Bodaibo District of the Irkutsk Region has become a strategic location for development and expansion of the GV Gold's production capacities. We consistently implement investment projects, developing social infrastructure and creating new jobs, and our business and social initiatives are supported by the Government of the Irkutsk Region. Joint efforts help to achieve a common goal - consistently higher welfare and well-being of the residents of the entire region”, — commented Sergey Gostev.

The parties also discussed the results and future plans of the GV Gold’s business in the Irkutsk Region, including the cooperation in development of the infrastructure for the Company’s investment project on the Svetlovskoye gold-bearing deposit exploitation. For the purpose of successful commissioning of the mine in 2025, the Government of the Irkutsk Region and the Company elaborate upon the issues of state support for the construction of the infrastructure (power supply, transport) required for the Svetlovskoye project implementation.

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 2021, its assets produced 276 koz of gold.

GV Gold’s 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 10.5 Mtpa of ore and holds 42 mining and exploration licenses.

GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 5.3 Moz and 10.8 Moz, respectively.