Pavlik, Gold Ore Company

JSC "Gold Ore Company PAVLIK" in 2007 began the development of the gold ore deposit of the same name in the Tenkinsky district of the Magadan region.

Performance indicators

2024: Revenue growth 1.8 times to ₽87,3 billion

According to the results of 2024, the net profit of the Pavlik gold mining company reached ₽21,8 billion, which allowed the organization to leave the unprofitable zone - in 2023 the company completed the reporting period with a negative financial result. According to RAS reporting data published in early April 2025, the company's revenue over the past year increased 1.8 times and amounted to ₽87,3 billion.

According to Finmarket, a significant improvement in financial indicators is associated with an increase in production volumes and a favorable price situation in the precious metals market. The company traditionally does not disclose detailed information on sales volumes and average sales prices of its products.

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Фото: Freepik

According to the government of the Magadan region, in 2024, 12.8 tons of gold were mined at the Pavlik deposit. This is 38% higher than the result of 2023. The increase in production was made possible by the launch of the second stage of the gold recovery plant in 2023. Along with the growth of production, the average ruble prices for gold in 2024 increased by about a third.

An additional factor that positively affected the company's net financial result was the reduction in other expenses. This article usually includes, among other things, exchange rate differences in currency transactions.

The debt burden of the gold miner also showed positive dynamics. According to analysts, Pavlik's total debt for 2024 decreased by 12% and at the end of December amounted to ₽102,3 billion. The company's net debt decreased more significantly - by 17%, to the level of ₽93,8 billion.

The mining and processing plant at the Pavlik field is located in the Magadan region. The company was officially opened in 2015 and for ten years of operation entered the top ten largest Russian gold mining companies. The field is managed by Arlan IC. ^[1]

2023: Halving losses to RUB 1.69 billion

Net losses of the Pavlik gold mining company in 2023 reached 1.69 billion rubles, which is half the losses a year ago (3.64 billion rubles). Revenue during this time rose almost 2 times and amounted to 48.97 billion rubles (in 2022 - 27.59 billion rubles). Such data in accordance with Russian accounting standards (RAS) were released in early April 2024.

According to the Interfax news agency, citing Pavlik's materials, in 2023, an almost threefold increase in sales profit was recorded, to 21.68 billion rubles. At the same time, the cost of sales increased by 43%, to 24.69 billion rubles. Gross profit increased 2.63 times and amounted to 24.28 billion rubles.

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Фото: Unsplash

It is also noted that the amount of interest payable increased by about 3 times in 2023 - to 12.43 billion rubles, which was offset by a decrease in other income, to 11.89 billion rubles.

By the end of 2023, Pavlik's total debt grew by 14% and reached 116.8 billion rubles, and net debt increased by 11% to 113.4 billion rubles. The agency draws attention to the fact that the growth in revenues from sales of products helped the company return to a positive operating cash flow, at the end of 2023 it amounted to 6.6 billion rubles against a negative 24.9 billion rubles a year earlier.

In 2023, the Pavlik gold mining company increased gold production to 9.3 tons, which is 29% more than a year earlier. The growth is due to the commissioning of the second stage of the Pavlik gold recovery plant.

As of the end of 2023, the mining and processing plant at the Pavlik field in the Magadan Region is one of the ten largest gold miners. The field is managed by Arlan Investment Company^[2]

History

2025: Discovery of a new deposit with reserves of 43 tons of gold

The Ministry of Natural Resources of Russia announced the discovery by the Pavlik gold mining company of a new Zolotaya Rechka deposit in the Magadan Region with reserves of 43 tons of gold and obtaining a mining license. This became known on January 21, 2025.

According to Interfax, the explored reserves of the deposit in categories C1 + C2 are 14 tons of gold and 3.6 tons of silver. Off-balance sheet reserves are estimated at 28.7 tons of gold and 7.4 tons of silver.

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Фото: Freepik

The Zolotaya Rechka section is located on the southwestern flank of the Pavlikovsky ore field. The territory was allocated by Polyus in the 2000s after geological exploration work was carried out within the Omchak ore node.

According to Pavlik the government of the Magadan region, the company "" in 2024 increased production at the deposit of the same name by 38% to 12.8 tons of gold after the launch of the second stage of the gold recovery plant in 2023.

The successful completion of geological exploration at the Zolotaya Rechka site will significantly increase the company's resource base, the Ministry of Natural Resources notes.

According to the publication, the mining and processing plant at the Pavlik field, managed by the investment company Arlan, was opened in 2015 and is one of the ten largest gold miners in Russia.

The discovery of a new deposit strengthens Pavlik's position in the Russian precious metals mining market. The new deposit will complement the existing production assets of the company, allowing to optimize logistics due to the proximity to the existing infrastructure of the Pavlikovsky ore field.^[3]

2024: Appointment of Rustem Utyashev as CEO

In early March 2024, the Pavlik gold mining company, one of the largest gold mining enterprises in the Far East, announced the appointment of a new general director. It was Rustem Utyashev, who replaced Igor Nikolishin in this post, who headed the enterprise since January 2023. Read more here.

2023: Igor Nikolishin - the new general director of Pavlik

In January 2023, Igor Nikolishin became the new general director of the Pavlik gold mining company, who replaced Anton Kim in this post. Interfax drew attention to the appointment of a new head, referring to the data of the Unified State Register of Legal Entities (USRUL). Read more here.

Notes