Peter Hambro Mining
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| Public (: ) | |
| Industry | Gold mining |
| Founded | 1994 |
| Headquarters | Listed in London, England. Operates in Russia |
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Key people
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Mr Peter Hambro (Chairman of the board) Senator Pavel Maslovskiy (Honorary President) Mr Sergey Ermolenko (CEO) Mr Martin Smith (Deputy CEO) |
| Products | Gold |
| Revenue | US $1,375.2 million (2012) |
| US $227.0 million (2012) | |
| Profit | US $243.9 million (2012) |
| Subsidiaries | IRC Limited |
| Website | www. petropavlovsk.net |
Petropavlovsk plc (: ) (formerly Peter Hambro Mining plc) is a London-based gold mining company with operations in Russia. The company is listed on the .
The Group was founded by Peter Hambro and Pavel Maslovskiy in 1994 as an Anglo-Russian venture to develop a highly-prospective, under-developed gold project in the Amur region, Russian Far East. Since then, Petropavlovsk has grown from strength-to-strength and is now a major, multi-mine, Russian gold producer.
In 2002, the Company was first listed on the Alternative Investment Market. Peter Hambro Mining fully acquired Aricom, a business formed by Peter Hambro and Pavel Maslovskiy and operating in the Amur Region, in April 2009. It was also first fully listed on the in April 2009.
In September 2009, the company changed its name from Peter Hambro Mining plc to Petropavlovsk plc, retaining the POG stock exchange code, in order to reinforce its Russian focus.
In October 2010, the company floated its non-precious metals division (the assets previously held by Aricom plc) on as IRC Ltd (Stock Exchange Code: HK1029).
The Group’s principal assets are four hard-rock gold mines in the Amur region, Russian Far East. All four mines are open pit and gold is processed on-site utilising conventional resin-in-pulp (“RIP”) processing plants and/or heap-leaching operations. Acquired as either greenfield or early-stage exploration sites, the mines were developed and commissioned in-house by the Group, utilising its specialist exploration, engineering and construction teams and its research and development centres and laboratories. As the group’s mining assets are all located in Russia, the group’s operations are run in accordance with Russian environmental, . As a consequence, the group has a good environmental management and safety track record compared to some of its peers in the mining sector. In order to provide greater transparency to its international shareholders and stakeholders, the Group in recent years has sought to align its policies and procedures with international best practice.
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