GV Gold and the Government of the Irkutsk Region Signed the Social and Economic Partnership Agreement
The Government of the Irkutsk Region and GV Gold (Vysochaishy, PJSC) signed the Social and Economic Partnership Agreement for RUB 31 M – an all-time high of the years of partnership.
The agreement was signed at the St. Pertersburg International Economic Forum 2021 by Igor Kobzev, the Governor of the Irkutsk Region and Vladislav Barshinov, the CEO of GV Gold.
According to the terms of the agreement, the funds will be traditionally channeled for target financing and development of the social and environmental programs, significant for the Irkutsk Region. More than 35% of the funds will be used to finance the projects of culture and sport, 16% - for the environmental programs, including co-financing of the international campaign “Garden of Memory” planting trees in the memory of fallen soldiers of the Great Patriotic War.
“Today we have signed the agreement with GV Gold, which is important for the Irkutsk Region. The company has been our reliable business partner for a number of years. Since 2013, GV Gold has provided more than RUB 150 million for the financing of social activities in the Irkutsk Region. The amount of this year’s agreement is record-breaking – RUB 31 million. The financial aid will be lent to the projects of culture and sport, environmental programs and campaigns”, - explained Igor Kobzev.
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.
“Since the moment of its establishment, GV Gold has been building long-term partnership relations with the Government of the Irkutsk Region, generating and introducing our joint solutions for sustainable social and economic development of the region. Twenty years ago, the Vysochaishy Mine produced the first gold, and today we have three modern mines in the region and have already commenced the implementation of our new project – the Svetlovsky Mine. GV Gold implements complex projects that require significant investments into the infrastructure, thereupon, a support of the region is very important for us”, - noted Vladislav Barshinov.
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 2020, its assets produced 272 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 38 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.