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Strategic objectives and performance

Constantly delivering on our strategic goals

Performance in 2019
Targets for 2020
  • Robust performance
  • Robust performance
Performance in 2019
1.6 Moz GE
  • 1.6 Moz GE produced in 2019, up 3% year-on-year and above original guidance
$1,075 million
  • $1,075 million adjusted EBITDA up 38% compared with 2018
$385 million
  • $385 million dividend declared ($0.82 per share)
+5%
  • 5% increase in reserves
  • Excellent exploration results at existing mines, notably Kyzyl, Veduga and Kutyn
Targets for 2020
  • 1.6 Moz GE production
  • Development projects at existing operations, aimed at either extending the life-of-mine or reducing costs, namely at Mayskoye, Voro and Dukat
  • $650—700/GE oz Total cash costs guidance
  • Commitment to a zero-fatalities target and further improvements across health and safety
  • Delivering growth
  • Delivering growth
Performance in 2019
Nezhda
  • Start of construction
  • First ore mined
  • Plant framework construction and winterisation completed
POX-2
  • Start of detailed engineering and contracting
  • Autoclave foundation completed
Targets for 2020
Nezhda
  • Start of equipment installation
  • Construction and commissioning of power plant to be completed
POX-2
  • Receipt of all permits
  • Delivery of the autoclave on-site
  • Securing the future
  • Securing the future
Performance in 2019
2.8 Moz
  • 2.8 Moz more than doubling ore reserves at Veduga
5.7 Moz of Pde
  • 5.7 Moz of PdE updated mineral resources estimate for Viksha
+110%
  • 110% increase in gold contained to 812 Koz — updated open-pit ore reserves estimate at Kutyn
  • First strategic partnerships with junior exploration companies
Targets for 2020
  • Additional drilling and initial ore reserves estimate for Prognoz
  • Complete ore reserves estimate update at Veduga
  • Further advancing and exploration activities at Viksha
  • Continuing investment in greenfield exploration through partnerships with junior exploration companies
  • Governance and sustainability
  • Governance and sustainability
Performance in 2019
  • Full compliance with the provisions of the UK Corporate Governance Code Industry Mover distinction from RobecoSAM for excellent sustainability performance
  • MSCI Environmental, Social and Governance Leaders index
  • Amursk POX and Voro plants certified as being in full compliance with the International Cyanide Management Code
  • Full disclosure on tailings storage facilities Sustainability-linked loan with Societe Generale
  • Average Board tenure reduced to 4.5 years
  • 33% female directors
Targets for 2020
  • Ultimate goal of zero fatalities and LTIFR ≤ 0.2 at all operations
  • New sustainability/ESG KPI for the Group CEO and relevant senior management
  • 30% female representation in the diversity target group
  • Financial assessment of climate-related risks within our climate management system
  • Continuous reduction of fresh water use
  • Further implementation of dry-stack storage method across the Group
  • Continued compliance with global and local best practices