Petropavlovsk for the first nine months has reduced gold production by 22%


Moscow. October 20. Gold mining Alliance Petropavlovsk in January-September 2015 has reduced gold production by 22% compared to the same period in 2014, to 354,7 million ounces, the company said.

According to preliminary calculations, Petropavlovsk’s net debt as of the end of September amounted to $675 million For the third quarter of Petropavlovsk has reduced this figure by 3%. By the end of the year, the company plans to reduce net debt to $600 million and, as stated by the CEO of the company Pavel Maslovsky, to comply with financial covenants.