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Petropavlovsk Achieves Key Gold Processing Milestone At Pokrovskiy

Wed, 5th Dec 2018 08:35

LONDON (Alliance News) - Petropavlovsk PLC said Wednesday it had achieved a "key milestone" after it begun initial gold processing of concentrate at its Pokrovskiy mine in Russia one month ahead of schedule.

The firm had started its initial processing of refractory concentrate at its pressure oxidation - or POX - hub at the Pokrovskiy site in the Amur region. This is through autoclave one at the site.

"Today's announcement marks a significant moment in the company's history, as we begin to process our refractory ore via the newest and most technologically advanced POX processing facility in Russia, a month ahead of schedule," Petropavlovsk Chief Executive Officer pavel Maslovskiy said. "There remains considerable work to be undertaken before we can reach full capacity, however, this initial performance is hugely encouraging for the company."

"Delivering an initial gold recovery rate of c.93% at the POX Hub is testament to the many years of hard work, research and partnerships with key technical experts who are leaders in their industries," Maslovskiy added. "We look forward pouring our first gold from the facility later this month, once the RIP circuit is fully loaded."

The firm explained the processing was working well, with the 93% recovering "close" to the projected design recovery of 98%.

Autoclave one has reached 50% of its processing capacity and ramp up is ongoing. Autoclave two has begun "hot commissioning" ahead of schedule and will start processing by the end of 2018. The remaining two autoclaves will be launched in the second quarter of 2019.

"This operational success helps to underpin our stable growth story," Maslovskiy continued, "whereby our open pit and high grade underground mining operations are complemented by our unique ability to process complex refractory ore - both our own abundant reserves and optional third party ore - helping to differentiate Petropavlovsk from its Russian peers and offering a strong competitive advantage."

Shares in Petropavlovsk were down 0.2% at 5.98 pence on Wednesday.

By Ahren Lester;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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