Strategic objectives and performance

Strategic objectives


  • Ensure robust operating and financial performance at existing mines
  • Disposal of high-cost short-lived operations (Kapan and Okhotsk)
  • 1.614 Moz GE produced in 2019: an increase of 3% over 2018 and 4% above the original production guidance of 1.55 Moz
  • Adjusted EBITDA of US$780 million, 5% above 2017
  • Free cash flow of US$176 million
  • Find more at Results centre

  • Deliver medium-term growth through building and ramping up Kyzyl


  • Successful launch in June 2018, ahead of schedule and within budget
  • 96 Koz of payable production in 2018, a beat on the original guidance of 80 koz
  • Offtake agreements secured for all 2019 concentrate production
  • Explore Kyzyl project

  • M&A combined with own exploration efforts
  • Increase in mineral resources by 15% to 24,0 Moz of GE
  • Exploration has increased Ore Reserves at Nezhda increased by 2,4 Moz to 4.4 Moz of GE.
  • A 5-year life-of-mine extension at Mayskoye
  • Take a look at Reserves and Resources

  • Maintain high standards of corporate governance and sustainable development
  • Full compliance with the provisions of the UK Corporate Governance Code
  • The first Russian company to join the Dow Jones Sustainability Index.
  • Leader in the metals sector by Sustainalytics.
  • The highest score for Anti-Corruption, Corporate Governance, Risk Management and Labour Standards by FTSE4Good
  • Appointment of three new independent non-executive Directors
  • Find more about Corporate governance and Sustainability performance