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

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^[1]

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.^[2]

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.