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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 2018. The agreement lays the basis for cooperation in the field of implementation of the social programs, promoting a complex development of the town of Bodaibo and the Bodaibo Area.

The agreement was signed by the CEO of GV Gold G.R. Pikhoya and the First Deputy Governor of the Irkutsk Region and the Chairman of the Government of the Irkutsk Region R.N. Bolotov. In the context of the visit, the parties discussed results of the Company’s activity on the territory of the Irkutsk Region, the long-term development plans and the areas of cooperation between GV Gold and the regional government.

The Government of the Irkutsk Region is one of the first sub-federal units to support the long-term practice of development of the partnership relations with the companies based on the conclusion of the social and economic partnership agreements.

Upon the conclusion of the relevant agreements, such issues as the timely and complete fulfilment of the Company’s tax obligations, financial support of the region’s social programs, growth of investments in the production, fulfillment of the Company’s own social program, including timely payment and indexation of the salary of the Company’s employees, conclusion of the collective bargain agreements, etc. are elaborated and resolved

— For many years, the Irkutsk Region has been a strategic region where the Company operates. The main production facilities of GV Gold are located in the Bodaibo Area, where 20 years ago the Company obtained its first license for the Golets Vysochaishy gold deposit. With the Irkutsk Region we associate our plans for further expansion and development, — noted German Pikhoya.

— Every year for the past five years we extend the social and economic partnership agreement concluded with GV Gold. The Government of the Irkutsk Region appreciates long term plans and intensions of the Company in implementation of different programs which would promote not only the Company’s development, but also a development of the region, its social and economic stability, including the implementation of different social initiatives on the territory of the Angara Region — accented Ruslan Bolotov.

Company Profile

GV Gold (Vysochaishy, PJSC) is one of largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2017, the Company produced 225 koz of gold, becoming the 7th largest gold miner in Russia. In 2018, the Company expects to produce 280-300 koz.

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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