Inactive Instrument

Petropavlovsk

Equities

POG

GB0031544546

Petropavlovsk PLC : - IRC: Q4 Trading Update

January 18, 2013 at 11:59 am IST

MarketScreener.com By

16 January 2013

IRC: Q4 to 31 December 2012 Trading Update:

Kuranakh beats 2012 Production Targets for Second Consecutive Year

Petropavlovsk PLC ("Petropavlovsk") holds a majority stake in IRC Limited ("IRC"), the Group's former Non-Precious Metals Division prior to its listing on the Stock Exchange of Hong Kong Limited (stock code: 1029).

Petropavlovsk is pleased to confirm that IRC has issued today its Trading Update for the Fourth Quarter of 2012, to 31st December 2012.

Key Highlights:

n Iron ore production targets exceeded at Kuranakh Mine by 18%

n K&S Project construction and operations on track

n 2013 production targets set significantly higher at 900,000 tonnes for iron ore (10% increase year-on-year) and 160,000 tonnes for ilmenite (28% increase year-on-year)

The full announcement may be found on IRC's website,http://www.ircgroup.com.hk.

Enquiries

Petropavlovsk PLC

Alya Samokhvalova

Rachel Tuft

+44 (0) 20 7201 8900

College Hill

David Simonson

Matthew Tyler

Anca Spiridon

+44 (0)20 7457 2020

This information is provided by RNS

The company news service from the London Stock Exchange

RNS news service provided by Hemscott Group Limited.

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Company Profile

Petropavlovsk PLC is a United Kingdom-based gold mining company. The Company's segments include Pioneer, Malomir and Albyn hard rock gold mines, which are engaged in gold and silver production, as well as field exploration and mines development. Its Pioneer gold mine is a bulk tonnage mine with multiple open pits and an underground mine, located approximately 40 kilometers north of Pokrovskiy. The Pioneer orebodies include both non-refractory and refractory ore. Its Malomir gold mine is located approximately 670 kilometers northeast by road of Pokrovskiy. The gold-bearing ore body in Malomir is hosted by upper Palaeozoic metasediments, mainly carbonaceous shales. Its Albyn gold mine consists of over three licenses and is located approximately 720 kilometers from Blagoveshchensk. Its pressure oxidation facility (POX Hub) facilities are allocated between Pioneer, Malomir and Albyn gold mines.

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