LONDON: Petropavlovsk PLC announced the appointment of Denis Alexandrov as Chief Executive Officer.
Mr Alexandrov, who will also become a director of the Company, will join with effect from 1 December 2020.
Denis is a highly experienced executive in mining and natural resources, including the Russian gold sector, and has a strong track record of delivering operational excellence and superior shareholder returns. From January 2016 through November 2020, Denis was Chief Executive Officer of Highland Gold Mining Limited, a top 10 Russian gold producer and developer with exploration assets.
Prior to joining Highland Gold, Denis held a series of senior positions and board roles at mining and natural resources companies, including as CEO and Director of Auriant Mining AB, a Swedish company focused on gold production in Russia, and as Managing Director at A1 Investment Company and Chief Financial Officer at Arlan Investment Company, both of which had substantial holdings in the mining industry.
Maxim Meshcheryakov was appointed interim Chief Executive Officer of Petropavlovsk PLC in August 2020. Maxim will remain with the Company in a senior position to work with Denis Alexandrov.
James W Cameron Jr, Petropavlovsk Chairman said “We are delighted to welcome Denis to Petropavlovsk. He brings significant experience in the Russian gold mining sector, understands the requirements of a listed company and has a proven ability to grow businesses for the benefit of all stakeholders. We look forward to working with him as the Company continues to strengthen with an enhanced leadership team to deliver operational excellence, greater transparency and full compliance to best practice corporate governance.”
Denis Alexandrov, said: “I am excited to be joining Petropavlovsk. My first priorities as CEO will be to ensure a smooth transition to the new leadership team and to formulate a clear operating strategy that delivers growth and improved returns. In the current gold price environment, better management of the Group’s strong asset base should benefit all of our stakeholders – shareholders, local communities, partners and contractors, and the Group’s employees and their families. I look forward to working with them all to build an exciting future for Petropavlovsk.”
Mr. Alexandrov has no other disclosable appointments and no other information is required to be disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the Financial Conduct Authority.
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 21.03Moz Au which include Reserves of 8.46Moz Au.
Following its IPO on the Alternative Investment Market (AIM) in 2002, Petropavlovsk was promoted to the London Stock Exchange in 2009, where today it is a Premium Listed company and a constituent of the FTSE 250, FTSE 350 and FTSE All Share indices. The Company’s shares also trade on the Moscow Exchange and are a constituent of the flagship RTS / MOEX index.
Petropavlovsk’s key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.8.1Moz of gold since operations began in 1994 and 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 one of the region’s largest employers and one of the largest contributors to the sustainable development of the local economy.
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