PJSC Seligdar reduced the production of ligature gold by 8%, to 7.62 tons, following the results of 2024. The company explains the reduction in output by the planned involvement of low-grade ores accumulated in warehouses in processing. At the same time, Seligdar maintained the profitability of processing against the backdrop of high gold prices in the reporting period.
The volume of rock mass increased by 2% in 2024 to 30.0 million cubic meters compared to 29.5 million cubic meters a year earlier. Ore production in dry weight decreased by 34% year-on-year, to 7.5 million tons. Sand washing at the Yursky and Orta-Sala deposits (Yursky production complex) increased by 3%, to 1.5 million cubic meters. “The decrease in production was due to the fact that, in the conditions of improved market conditions, Seligdar increased the involvement of previously accumulated low-grade gold ores in the development, which made it possible not to increase the volume of ore production, as well as the development of the flanks of deposits with thin ore contours, the increase in advanced stripping and the completion of the contract for the development of the Lunnoye deposit,” the company explains. As a result, consolidated revenue from gold sales under IFRS in 2024 increased by 6% and amounted to 50.8 billion rubles. Of the total amount, 98.98% came from the sale of its own gold. Consolidated revenue from the sale of gold produced by the holding companies increased by 22% to 50.8 billion rubles. The company notes that the increase in revenue was ensured by an increase in the average annual selling price of gold by 33%. It should be noted that the holding also includes the company PAO Rusolovo, which produces tin, tungsten and copper, which increased sales by 19% over the reporting period, to 7.5 billion rubles. Thus, by the end of 2024, the total consolidated revenue from sales of gold, tin, tungsten and copper concentrates increased by 8% to 58.2 billion rubles.