Petropavlovsk PLC Company Policy and Update on COVID-19 (4652G)
17 Marzo 2020 - 6:39AM
UK Regulatory
TIDMPOG
RNS Number : 4652G
Petropavlovsk PLC
17 March 2020
17 March 2020
Petropavlovsk PLC
Company Policy and Update on COVID-19
Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together
with its subsidiaries, the "Group") provides the following update
with regards to the Company's policies and initiatives towards
protecting the health and welfare of staff, as well as all risk
mitigation policies in relation to the global COVID-19
("Coronavirus") pandemic.
Petropavlovsk's highest priority is to protect its workforce and
the local communities in the Amur region as well as its offices in
Moscow and London. There are a number of risk mitigation strategies
focused on protecting all of our staff which include a thorough
reporting culture of any infection or illness, the provision of
regular advice, prevention of infection (or the spread of
infection) and appropriate resourcing to our medical facilities
across the Group.
At this time there have been no reported cases of the
Coronavirus within the Amur region or at any of Petropavlovsk's
mining, research or administrative operations throughout Russia or
in London. There are no disruptions to any of the Company's supply
chains, logistics, and normal business operations. However, the
Company is carefully monitoring on a day-to-day basis the potential
impact the Coronavirus could have on the welfare of all of
Petropavlovsk's employees, the communities within which we operate
and to the business.
Petropavlovsk will also continue to monitor the supply chain
logistics to all its operations, which are almost entirely sourced
from within Russia and remain fully functional. The recent
devaluation of the Rouble and fall in oil prices are both
beneficial to the Company's cost of operations.
Should there be any material changes in Petropavlovsk's risk
profile due to the increased proliferation of COVID-19, an
announcement will be made immediately.
About Petropavlovsk
With a Premium Listing on the London Stock Exchange,
Petropavlovsk (LSE: POG) is a major integrated Russian gold
producer with JORC Resources of 20.52Moz Au which include Reserves
of 8.21Moz Au.
The Company's key operating mines (Pioneer, Malomir and Albyn)
are in the Amur Region in the Russian Far East and the Company has
produced a total of c.7.6Moz of gold since operations began in
1994. Petropavlovsk has a strong track record of mine development,
expansion and asset optimisation.
The Group recently entered a new era of growth following the
successful commissioning and start-up of its flagship asset, the
Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the
processing of the Company's abundant refractory reserves and
resources.
Petropavlovsk is committed to implementing international best
practices across all areas of sustainable development and is one of
the region's largest employers and contributors to the local
economy.
For More Information
Please visit www.petropavlovsk.net or contact:
Petropavlovsk PLC +44 (0) 20 7201 8900
Patrick Pittaway / Max Zaltsman / Viktoriya TeamIR@petropavlovsk.net
Kim
Peel Hunt LLP
Ross Allister / David McKeown / Alexander
Allen +44 (0) 20 7418 8900
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor / James Asensio +44 (0) 20 7523 8000
Buchanan +44 (0) 20 7466 5000
Bobby Morse / Kelsey Traynor / Ariadna POG@buchanan.uk.com
Peretz
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFLFVFVRIDLII
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March 17, 2020 08:39 ET (12:39 GMT)
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