At a glance


Key facts

This year celebrating its 25th anniversary,
Petropavlovsk is a London premium-listed, Russia-focused gold mining and R&D business.

  • 7.6Moz gold produced to date.
  • 514koz Au sales in 2019.
  • 17 years average mine life.
  • 1 of only two POX plants in Russia.

Our strategy

To create superior value for shareholders through six fundamental objectives:

  1. Maintain and expand gold reserves and resources.
  2. Unlock the value creation potential of the POX Hub.
  3. Optimise costs and operational efficiencies.
  4. Strengthen the balance sheet and increase liquidity.
  5. Continuously improve sustainability practices.
  6. Develop and nurture current and potential employees.

Our values

We place people first. Responsible practices are our highest priority and we aim to operate safely, efficiently and transparently, continually seeking new ways to ensure an injury-free workplace. We are committed to preventing pollution, minimising waste, increasing carbon efficiency and optimising natural resource usage. We develop innovative solutions to mitigate environmental risks and welcome an active dialogue with all our stakeholders and local communities.


We challenge ourselves and others to constantly look beyond the latest scientific and engineering developments worldwide. Our aim is to be a respected industry leader in safety and environmental practices, whilst realising the full potential of our assets through ingenuity, drive and innovation.


We believe that honest communication, sound business ethics and respect for people are the foundation of our business and we deal with all our stakeholders in a respectful, responsible way. We are guided by our Code of Business Conduct and Ethics in every situation, at all levels of the Company, to preserve dignity and self-worth in all our interactions.


We are focused on delivering results and on doing what we say we will do. We accept responsibility and hold ourselves accountable for our work, behaviour, ethics and actions. We aim to deliver high performance outcomes and undertake to deliver on our commitments to our colleagues, business and social partners, and our investors.


We strive for excellence and recognise that our differences make us stronger. By creating an inclusive and fair workplace, we are ensuring not just diversity of people and skills, but ideas too. This is the basis for a culture of creativity, which supports the innovation that we value and is a benefit to all stakeholders.

Our culture

Without an inclusive culture, diversity is nothing and we believe a culture of equality is a multiplier of growth and innovation. We aim to foster an inclusive culture that cultivates respect and equality,
and which positively recognises differences.


A positive and happy workplace environment is key to increased job satisfaction, higher rates of productivity and reduced workplace stress. This is reflected in reduced employee turnover and enables the Company to attract and retain top talent.


Creativity and problem solving have been part of our DNA since the Company was formed and our research & scientific institutions are a key differentiator of the Group and capable of delivering superior value to our stakeholders. Additionally, a workplace culture that encourages creativity leads to happy, motivated and more productive employees.


Showing appreciation for achievement, whether professional or private, through recognition reflects the value we place on our employees and the effort made by each team member. We understand that recognition can take many forms and adapt these to reflect to the different geographic cultures of the Group and the diversity of our employees.


The success of our Company is ultimately based on our employees having successful careers, and progression and advancement is a key ethos for the Group. Many of our employees were educated as students for free by Petropavlovsk and continuous learning is encouraged as part of their ongoing development as professionals.

Key financial
figures for 2019

  • Revenue US$ million
  • Total Cash Costs US$
  • All-in Sustaining Costs US$
  • Underlying EBITDA US$ million
  • Profit for the year US$ million
Map of sites in Russia



25 years of technical and gold mining expertise

The POX Hub

Significant assets

Experienced management and technical expertise

Net debt / EBITDA of 2.1x at end of 2019

Strong Board and Governance

ESG principles and industry best practice


Download the
full 2019 report

Download the <br>full 2019 report