The gold mining company has disclosed its financial results for 2023. At the end of the reporting period, UGC’s net loss amounted to 5.45 billion rubles, which is almost 3 times lower than the previous year’s figure. This is reported by the Metallinfo portal with reference to the holding’s materials.
In January-December, UGC earned 33.9 billion rubles, which is 13.3% more than it received in 2022. Profit from product sales reached 6.5 billion rubles, demonstrating growth of 181%. Annual income from sales of precious metals amounted to 29.161 billion rubles, which is 15.5% more year-on-year. As UGC emphasized, the share of revenue from gold and silver sales in the total figure reached 87%.
Earlier, UGC announced its production results for 2023. In the reporting period, the holding’s enterprises produced 412.5 thousand troy ounces, which is 6.8% lower than the 2022 level. As the company explained, the figure fell due to a decrease in gold content at the Kochkarskoye deposit.
Also last year, the company’s divisions mined a total of 17.7 million tons of ore, which is 30.8% more than in January-December of the previous year. Processing volumes increased to 23.9 million tons (+3.4%).