• GOLD: $ 2420.32 -0.25%
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About company

JANUARY

Seligdar summed up operating results for 2021. Gold production by the companies of the Seligdar Holding grew by 3% against 2020 and exceeded 7.2 tonnes. Production of tin in concentrate increased by 15% and totalled 2.9 thousand tonnes. Production of tungsten in concentrate decreased by 35% to 47 tonnes. Production of copper in concentrate comprised 366 tonnes, a 55% increase compared to 2020.The total revenue from sales of metals amounted to 35 billion Russian roubles that made a 2% increase year-on-year.

January 20, 2022, Rusatom Overseas JSC (a company of the Rosatom State Corporation) and Seligdar PJSC signed an Agreement on the Supply and Consumption of Energy Generated by a Small Modular Reactor Nuclear Power Plant (SMR NPP) for the development of the Kyuchus gold deposit in the Republic of Sakha (Yakutia). The agreement sets a 40-years period of electrical power supply, starting from June 30, 2028. Seligdar will use at least 35 MW of nuclear-generated electricity in the Kyuchus deposit project.

FEBRUARY

Gold skarn ore processing plant with capacity of 200 thousand tonnes of ore per year was put in pilot operations at the Poisk production complex in the Altai region.

Seligdar became a general partner of the Republican Olympic Reserve Ski Sports School of the Republic of Sakha (Yakutia) in Aldan town

Seligdar ski slope was opened in the Aldan district of the Republic of Sakha (Yakutia).

Rusolovo PJSC and administration of Solnechny municipal district of the Khabarovsk region signed an agreement on cooperation. The agreement envisages material support from Rusolovo PJSC to resolve social and economic tasks as a part of the complex district development. The significant part of the agreement refers to the investments in renovation and modernisation of the Museum of Local History of the Solnechny settlement.

White Gold LLC, a company of the Seligdar Holding, made the final auction payment for the right to develop the Kyuchus deposit. The total payment comprised 7.735 billion Russian roubles.

MARCH

The Federal Subsoil Resources Management Agency (Rosnedra) issued a license for the Kyuchus deposit development to White Gold LLC (a company of the Seligdar Holding).The Company won the auction for the license to develop the deposit in October 2021.

Rusolovo PJSC started pilot operation of the XRT sorting facility. The implementation of XRT sorting at Pravourmiyskoye LLC (a subsidiary of Rusolovo PJSC) will allow increasing of the complex capacity to 450 thousand tonnes of ore per year without construction additional processing facilities and enable growth of tin in concentrate production up to 1,800 tonnes per year.

At the extraordinary General meeting held March 10, 2022, shareholders of Seligdar PJSC approved the share capital increase through placement of 37,645,270 additional ordinary shares by private placement to two potential buyers: Maximus LLC and Treasury Invest JSC, existing PJSC Seligdar’s shareholders.

APRIL

Drilling started at the Kyuchus deposit. In March, OGK Group, a general contractor of White Gold LLC for the Kyuchus deposit, organised a fully autonomous drilling site and started core drilling. The total number of drilled meters amounted to 72 thousand running meters.

Seligdar announced operating results for 1Q2022 based on management data. Gold production by the Holding’s companies comprised 689 kg. Production of tin in concentrate was 542 tonnes.

Seligdar published its consolidated IFRS financial results for 2021. Consolidated revenue increased by 7% compared to 2020 and comprised 35.6 billion Russian roubles. EBITDA increased by 33% and amounted to 19.2 billion Russian roubles. EBITDA margin reached 54% compared to 44% in the previous year.

The project of the Khvoynoye mining and gold processing complex received a positive State Environmental Review.

Seligdar started exploration at the Khokhoy ore field. P1 and P2 prognostic resources* comprise 6 tonnes and P3 prognostic resources – 13 tonnes.

Seligdar allocated more than 4.5 million Russian roubles to organisation of cultural and sport events devoted to the 100th anniversary of the formation of the Yakutian Autonomous Soviet Socialist Republic.

At the meeting held on April 27, 2022, the Board of Directors of Seligdar PJSC made decision to set the placement price of ordinary shares of additional issue at 50.10 Russian roubles per share (including for purchase under pre-emptive right). 37,645,270 additional issue shares (or 3.8% of total shares) will be offered through the private placement to two potential buyers and current Seligdar’s shareholders: Maximus LLC and Treasury Invest JSC.

Rusolovo PJSC initiated programme of paid internship for students and graduates of industry-specific educational institutions with a post-internship job opportunity.

The Seligdar PJSC’s hotline was modernised.

MAY

At the meeting dated May 5, 2022, the Board of Directors of Seligdar PJSC made recommendations to the Annual General Meeting of Shareholders to pay dividend for 2021 in the amount of 4.50 Russian roubles per ordinary share.

Seligdar purchased 75% of Khatirkhay LLC from RG Proekt LLC (a subsidiary of Rosgeologia JSC). Seligdar PJSC and Rosgeologia JSC conduct together geological survey and exploration of the Khokhoy ore field situated in the Republic of Sakha (Yakutia). The parties also signed an option agreement, according to which Seligdar had right to increase its share in Khatirkhay LLC up to 100% after the reserves have been placed on the State balance sheet.

Rusolovo PJSC began to estimate a metallurgical production launch in the Khabarovsk region that would allow future diversification of the company’s product portfolio. Rusolovo conducts studies to develop newest, ecologically clean and efficient methods to process ore concentrates in order to significantly increase recovery rate and create a modern full cycle metallurgical production in the region.

For the first time, Rusolovo started a ‘Summer work camp 2002’ programme for schoolchildren between 15 and 18 years. The summer teams will help young people develop skills, get familiar with various professions, gain their first official work experience and receive first salary.

Two modern dormitories for 120 beds were built at the Sininda production complex in the Republic of Buryatia.

The Board of Directors of Rusolovo PJSC held its meeting on May 30, 2022. Evgeniy Kolesov was elected the President of Rusolovo PJSC, earlier he held the position of the Company’s CEO.

JUNE

The design documentation of gold skarn ore processing plant at the Poisk production complex in the Altai region received positive State Environmental Review.

At the Annual General Meeting held in form of absentee voting on June 10, 2022, shareholders of Seligdar PJSC approved the Annual Report, Financial Statements for 2021 and revised Regulations on the Board of Directors, decided on profit distribution, appointed an auditor, elected members of the Board of Directors and the Internal Audit Commission. Seligdar PJSC’s shareholders approved dividend for 2021 in the amount of RUB 4.5 per ordinary share. Total sum of dividends is 4,466 million Russian roubles.

Seligdar PJSC and administration of municipal district of the Northern Baikal region of the Republic of Buryatia signed an agreement on social and economic cooperation up to 2026.

Seligdar PJSC’s newly elected Board of Directors had a meeting on June, 17, 2022, after its election at the Annual General Meeting of shareholders on June, 10, 2022. Aleksandr Khrushch, First deputy CEO, Economics and finance director, was elected the Board’s Chairman. Mr. Khrushch has been a member of the Board of Directors since 2014 and that of the Management Boards since 2015. The Board of Directors applied statuses of independent directors and elected the Audit committee, the Nomination and remuneration committee and their Chairmen.

The office of the private security organisation Seligdar Security was officially opened in Aldan town. Seligdar Security provides services for assets and property safeguarding, access control and in-site security at the Seligdar’s operational sites.

Evgeniy Kolesov was appointed as President of Rusolovo PJSC from June 1, 2022, by the decision of the Board of Directors.

JULY

Seligdar held its Investor Day at Moscow Exchange on July 14, 2022.

Seligdar announced operating results for 1H2022 based on management data. Gold production of the Holding’s companies showed a 12% growth year-on-year and comprised 2,500 kg. Production of tin in concentrate totalled 1,254 tonnes.

Seligdar PJSC’s shares admitted to Moscow Exchange Level 1 quotation list.

Production of tungsten in concentrate started at the Solnechny complex of the tin division. Scheelite flotation facility was put into pilot operations at the Solnechnaya processing plant in June; first thousands of kilogrammes of tungsten in concentrate were extracted. The new technology will allow producing of the concentrate with not less than 40% tungsten content. The product will be sold in full in the domestic market of the Russian Federation.

Two new dormitories for 150 beds were commissioned at the Nizhne-Yakokitskiy production complex in Yakutia.

The Labun street was paved with asphalt under the agreement with the municipal institution ‘Aldan town’ of the Aldan district of the Republic of Sakha (Yakutia).

AUGUST

On August 12, 2022, Seligdar became the sole member of Yurskiy LLC having purchased 30% in it. Yurskiy LLC holds licences for Orto-Sala River, Yurskiy Stream and Timpton (Kolbochi allotment) alluvial deposits in the Republic of Sakha (Yakutia). Gold reserves of these deposits amount to 4 tonnes.

Seligdar published the interim IFRS consolidated financial statements for the six months ended June 30, 2022. Consolidated revenue of Seligdar PJSC comprised 11.6 billion Russian roubles, 2% up compared to the same period of 2021. EBITDA amounted to 5.7 billion Russian roubles, EBITDA margin was 49%.

As part of reforestation activities, Seligdar planted over 440 thousand seedlings on the area of 217 ha in the Neryungrinskiy district of the Republic of Sakha. The total cost of reforestation works amounted to 56 million Russian roubles.

Seligdar released 70 thousand juvenile graylings into Baikal Lake as a part of the programme of restoration of water biological resources and ecosystem of the Lake.

Rusolovo PJSC and VNIPIpromtekhnologii JSC (Design & Survey and Research & Development Institute of Industrial Technology of ARMZ Uranium Holding, Mining division of the Rosatom State Corporation) agreed on cooperation to design mineral raw materials production facilities, which will allow Rusolovo to solve issues of rational subsoil use more efficiently.

SEPTEMBER

Rusolovo and the Federal Service for Supervision of Natural Resources entered into an agreement on consultation during the implementation of investment projects. The subject of agreement is a pilot project to develop the mechanisms necessary for the interaction of Rosprirodnadzor and its subordinate organisations with legal entities and individual entrepreneurs, conducting the necessary examinations, assays and inspections as a part of the experiment.

At St. Petersburg International Economic Forum Svetlana Radionova, Head of Russian Federal Service for the Supervision of Natural Resources, noted: ‘One of the most successful examples of our cooperation is Rusolovo. Their approach is very serious, they want to be a long-term player and to be a participant in international markets, they consider ecology a priority’.

OCTOBER

Seligdar became finalist in three categories at the 18th Mining and Exploration Forum MINEX Russia 2022 and first at the IV International Film Festival MineMovie in the category ‘Chronicles of mining’.

Rating Agency Expert RA has assigned expected credit rating of ‘ruA+ (EXP)’ to the bonds of 001P series planned to be issued by Seligdar PJSC.

Seligdar was included in the category I ‘high level’ of the first Russian ESG index of companies prepared by RBC and National Credit Ratings (NCR) agency.

Tin Mining Company JSC (a subsidiary of Rusolovo PJSC) put into pilot operations its own laboratory of biological testing. The aim of the laboratory’s work is to conduct ecological monitoring related to testing for toxicity of samples taken from technogenic and natural environment. The Company also plans to conduct eco-monitoring at other sites of Rusolovo situated in the Khabarovsk region.

Rusolovo won an auction for the right to develop the Oktyabrskoye ore tin deposit situated in the Khabarovsk region in close proximity to the Festivalnoye deposit located to the West, the latter is being developed by Tin Mining Company JSC (a subsidiary of Rusolovo PJSC). Ore minerals are represented by cassiterite, stannite, stannic oxide hydrates, chalcopyrite, wolframite, scheelite, arsenopyrite, and secondary copper minerals.

Seligdar became a general sponsor of the All-Russia Cross-Country Skiing Competition in Aldan town.

Seligdar received an award in the category ‘Best Annual Report of a Company with Market Capitalisation of 40 to 200 billion Russian roubles’ in the XXVth Anniversary Annual Report Competition organised by the Moscow Exchange.

NOVEMBER

New sports and health centre was officially opened at the Seligdar PJSC’s headquarters in Aldan town.

Seligdar PJSC announced operating results for 9M2022 based on management data. Gold production by the Holding’s companies comprised 5,697 kg. Production of tin in concentrate amounted to 1,907 tonnes.

Seligdar has placed bonds for 10 billion Russian roubles on the Moscow Exchange. The par value of a bond is 1,000 Russian roubles. The bonds have a semi-annual coupon; the coupon rate is 10.80%.

Seligdar PJSC and the Federal Service for Supervision of Natural Resources signed an agreement on pilot project implementation. The agreement envisages consultations of Seligdar by Rosprirodnadzor on the compliance of its operations, planned or carried out during the implementation of investment projects, with the requirements of the legislation of the Russian Federation in the field of environmental protection and use of natural resources.

Seligdar in cooperation with Informzaschita Company integrated the import-independent system for auditing and monitoring information resources Makves DCAP into the IT infrastructure.

Seligdar and Rusolovo entered the 10 best employers among mining companies according to RBC rating.

Seligdar and Rusolovo entered the 100 largest Russian public companies by trading volume.

Seligdar PJSC published the interim IFRS consolidated financial statements for the nine months ended September 30, 2022. Consolidated revenue comprised 20.7 billion Russian roubles compared to 24.1 billion Russian roubles year earlier. EBITDA amounted to 7.6 billion Russian roubles. EBITDA margin was 37% for 9M2022.

National Rating Agency affirmed credit rating on Seligdar PJSC and its subsidiary Seligdar Gold JSC at AA-|ru| in Russian rating national scale with ‘stable’ outlook.

Rating Agency Expert RA affirmed the credit ratings on Seligdar PJSC and its subsidiary Seligdar Gold JSC at ruA+ with ‘stable’ outlook.

Rusolovo PJSC put into pilot operations modular ore separating complex at the Molodezhny mine. The XRT sorting technology is expected to increase production volumes due to possibility to determine and separate ore with high metal grade from waste rock.

Rusolovo and Solnechny industrial college signed an agreement to introduce a programme for profession of Separator Operator that will be taught to current employees and to students, with a post-education job opportunity in the Company. The study programme is related to the installation of the modular ore separating complex into operations at Tin Mining Company JSC and Pravourmiyskoye LLC and demand for workers with certain skills.

A dormitory for 75 beds were commissioned at the Ryabinovy production complex in the Republic of Sakha (Yakutia).

Two new dormitories for 110 beds were commissioned at the Poisk production complex in the Altai region.

Samples were taken at Pyrkakay stockworks. They were sent for further studies.

The Seligdar’s access control points in Aldan town of the Republic of Sakha (Yakutia) were changed with new ones equipped with CCTV (video surveillance) and screening ramps.

The design documentation for the construction of gold skarn ore processing plant at Poisk production complex in the Altay region received a positive review of State Expertise.

DECEMBER

Rating agency NCR (National Credit Ratings) affirmed the credit rating of Seligdar PJSC at A+.ru with ‘stable’ outlook.

Seligdar confirmed its ‘silver status’ in the Forbes rating of best employers.

At the Extraordinary General Meeting of Shareholders of Seligdar PJSC held in the form of absentee voting on December 14, 2022, the shareholders decided to increase the number of members of the Board of Directors to 12. The decision derives from the growth of the Holding's business, increase in the number of the Seligdar PJSC’s shareholders (more than 70 thousand shareholder accounts) and the expansion of the Holding's corporate structure.

Seligdar PJSC improved its position in the annual WWF Environmental Transparency Rating for Mining and Metal Companies of Russia and was ranked 16th among 39 participants having jumped two positions higher compared to the 2021 rating. The Seligdar rating score grew by 14% and comprised 1.227, more than 40% higher than the industry average of 0.85.

Seligdar was assigned A level ‘Best corporate ESG practice in the Russian Federation’ in the Rating of Sustainable corporate governance, designed by the Agency of corporate development Da-Strategiya.

The positive review of Glavgosexpertiza (‘Main Department of State Expertise’) for the project of construction of gold processing plant at the new Khvoynoye mining and processing complex was obtained.

Seligdar commissioned the largest in Russia automated laboratory complex in the Republic of Sakha (Yakutia). The Seligdar’s new laboratory is equipped with the cutting-edge machinery including two Herzog industrial robots that automatically split, crush and pulverize samples. These are the first laboratory robots of this class in the Republic of Sakha (Yakutia). The capacity of the first line is 500 samples per day, the laboratory’s area is 3,000 square meters.

By the Decree of the Head of the Republic of Sakha (Yakutia), Seligdar is conferred a National Award in Material Production for commissioning of sulphide ore preliminary thermal treatment facility at the Samolazovskiy production complex. The facility is unique in terms of ability to increase gold recovery from 20-30% to 90%.

The office of the private security organisation Rusolovo Security was opened in Solnechny settlement. Rusolovo Security provides services for assets and property safeguarding, access control and in-site security at the Rusolovo’s operational sites.

Rusolovo PJSC put into operations mine water treatment station. Its work is based on new technologies developed by the specialists of the Division of science and technology. The main features of the modernised mine water treatment station is full automation of processes of delivery and further supply of lime milk, new system of uninterrupted work of the station regardless environmental or technogenic situation. Currently the modernised mine water treatment station is installed at the Tin Mining Company (subsidiary of Rusolovo PJSC) operational sites.

Rusolovo PJSC and North Caucasus Institute of Mining and Metallurgy entered into agreement on strategic cooperation. Joint educational and scientific research projects, cooperation in specialists education and the Company’s employees training are being planned.

The existent access control points were changed with new ones equipped with CCTV (video surveillance) and screening ramps at Poisk production complex in the Altai region.

Seligdar reached new heights: gold production by the Holding’s companies exceeded 7.5 tonnes having increased by 6% compared to 2021. Production of tin in concentrate remained at the level of the previous year and totalled 2.9 thousand tonnes. Production of tungsten in concentrate grew by 72% against 2021 and reached 81 tonnes. Production of copper in concentrate increased 2.5-fold up to 916 tonnes.

* Russian classification compliant with the State Commission on Mineral Reserves (GKZ) reporting system

White Gold LLC, a joint venture between Gold Asset Management LLC, a company of Seligdar Holding, and RT-Business Development LLC, won the auction for the Kyuchus gold ore deposit located in the Republic of Sakha (Yakutia). With balance reserves of 175.3 tonnes of gold and resources of 250 tonnes, its license cost at the auction amounted to 7.735 billion Russian roubles.

Rusolovo PJSC, the parent company of tin division, set up a science and technology department, which launched R&D activities.

Following the merger with TREBBIYA LLC and BVT KHAUS LLC, Maximus LLC became the controlling shareholder of Seligdar PJSC. The ownership of Maximus LLC in the share capital of Seligdar PJSC soared from 19.72% to 42.44%, with the former’s ownership of ordinary shares rising from 23.24% to 50.0001%.

Operations started at the Orto-Sala alluvial deposit.

Rosgeologia JSC and Seligdar PJSC signed an agreement on joint geological survey and exploration at the Khokhoy ore field located in the Aldan district of the Republic of Sakha (Yakutia).

Ordinary shares of Seligdar were included in SMID Index of Moscow Exchange.

Seligdar got the State approval for the feasibility study of reserve estimation at the Khvoynoye deposit. The Company plans to build a gold processing plant for deposit development.

Seligdar recovered first 1.5 kg of gold at the Samolazovskoye deposit using the new technology of thermal ore treatment. A two-year period of stockpile bio-irrigation in the framework of the pilot heap bioleaching technology testing was completed, and the results were summed up.

Seligdar’s subsidiary Rusolovo won an auction for the subsoil license for geological survey, exploration, and mining of tin, tungsten, zinc, copper ores, gold and silver at the Pyrkakay stockworks deposit in the Chukotka Autonomous Okrug, one of the largest tin deposits in Russia.

Tin division companies, the plant of Pravourmiyskoye LLC and Solnechnaya Processing Plant of Tin Mining Company JSC went on year-round operations for the first time and did not stop operations during the winter of 2018–2019.

POISK LLC , a subsidiary of Seligdar, won the annual regional contest for the Best Industrial Enterprise of Altai Region 2018.

Seligdar was included in the World Wildlife Fund Transparency Rating of Environmental Responsibility of Mining and Metal Companies of Russia for the first time.

JSC Seligdar Gold won the auction for a lisence to explore and mine at the Yasnaya Polyana deposit.

The Ryabinovy gold processing plant produced first ton of gold.

The season end followed the research on bioleaching for dump processing  at the Samolazovskoye deposit. The new experimental method showed a positive trend in the bioliberation of refractory gold.

New technological schemes of ore processing of the Tin Mining Company’s deposits obtained prelimiary assessment.

Seligdar signed an agreement with the Government of the Republic of Sakha(Yakutia) on cooperation in the field of realization of the project “Local Personnel into Industry” for 2018–2022.

Rusolovo became a resident of “Advanced Economic Zone of Komsomolsk”.

Seligdar commissioned a gold processing plant at the Ryabinovoye deposit, which became the largest one of the kind in the Republic of Sakha (Yakutia) commissioned in the last 30 years. The plant was a full-cycle one with the operations of ore crushing, comminuting, screening and thickening, carbon–in–leach and electrowinning.

At the Samolazovskoye deposit, a pilot bioleaching facility was commissioned that marked the launch of the project of the deposit development and its industrial exploitation.

The review of mining project parameters of the Nizhne-Yakokitskoye Ore Field was finished in December 2017, and the gold reserves increased by 20 tonnes.

Seligdar finished renewal of the Festivalny Mining and Processing Plant and installed an alternative scheme of ore hoisting. The renewal allowed for a significant increase in efficiency and a time reduction related to hoisting due to the 2 times shorter hoisting scheme.

In May 2016, Seligdar reopened the Molodezhny underground mine after long conservation and repair works at the Festivalnoye tin deposit (Tin Mining Company LLC). On September 14, Seligdar commissioned Solnechnaya tin ore processing plant with a design capacity of 400 kt of ore per year and production up to 1.5 – 2 kt of tin in concentrate.

Seligdar initiated research of heap bioleachning technology for gold recovery at the  Samolazovskoye deposit.

On December 16, 2016, the ordinary and preferred shares of Seligdar were included in the Broad Market Index of Moscow Exchange composed of the top 100 securities selected by the criteria of liquidity, capitalization and free-float. The Seligdar shares were also included in the Metals and Mining Index and Second-Tier Stock Index of Moscow Exchange.

In July 2015, Seligdar started construction of a gold processing plant with a design ore processing capacity of 1 million tons per year at the Ryabinovy site. The plant was to increase the gold extraction grade compared to the heap leaching technology and allowed for the year-round production.

In December 2015, Seligdar acquired a license for the Purikanskaya area with prognostic gold resources of 6.8 tons situated close to the Yakut production complex. The proximity to the existing sites had a beneficial effect of synergy.

Seligdar commissioned mining area at the Ryabinovoye deposit (southern part of the Republic of Sakha, Yakutia) with gold reserves of 17.6 tons (the C1+C2 category according to the Russian classification).

In 2012, the Holding started operations at two promising sites of the Lunnoe and Podgolechnoye deposits with total gold reserves of 3.4 tons. Seligdar constructed a separate ore processing facility at the Verkhneye deposit of the Mezhsopochny production site having invested in projects 1,792 million rubles.

Seligdar’s subsidiary Artel Starateley “Sininda-1” won auctions for 11 placer gold deposits with total reserve potential of  330 kg conducted by the Department of subsoil use for Far Eastern Federal District for the Republic of Buryatia (Buryatnedra).

In 2012, Micon International issued the audit review of the mineral resources and gold reserves of the Nizhne-Yakokitskoye ore field and the Ryabinovoye deposit both situated in the Republic of Sakha (Yakutia) according the JORC code (subsoil licensee was JSC Seligdar Gold).

Seligdar concluded an agreement with an international consulting company Micon International Co Ltd to audit its reserves at the Ryabinovoye deposit, the Vasin deposit and the Nizhne-Yakokitskoye ore field according to the JORC Code.
In April 2010, Seligdar won an auction for license to conduct exploration and mine gold at the Podgolechnoye deposit situated close to the main production sites of the Yakutsky node (the Republic of Sakha, Yakutia).
In 2007, Seligdar Gold obtained license for exploration of the Ryabinovoye deposit and doubled its gold reserves. Seligdar’s total gold reserves reached 50 tons (C1+C2 category*), resources – 25.4 tons ( P1+P2 category*).

*Russian classification compliant with the State Commission on Mineral Reserves (GKZ) reporting system

In 2006, Seligdar established a new mining company –  Seligdar Gold JSC aimed at exploration and development of the Nizhne-Yakokitskoye ore field (theRepublic of Sakha). The year resulted in increase of production capacity, and new mining and transport equipment was purchased.

In 2006,  Seligdar Gold and Atomredmetzoloto signed an agreement and established a joint venture for exploration of the Lunnoe deposit. The Lunnoye deposit is a part of Elkon gorst, situated in the Republic of Sakha, Russia, which is one of the largest world-known uranium deposit (U). Seligdar Gold became the operator of the joint venture.



Mining at the Samolazovskoye deposit and putting into operations the Mezhsopochnoye deposit in 2004 and the Garbuzovskiy deposit in 2005 permitted to perfom re-organisation of gold mining and production, abandon placer gold mining and bring the gold production to 1.7 tons in 2005.

In 1996, Seligdar started pilot gold mining from ore dumps at the Lopukhovskiy ore deposit in the Republic of Sakha (Yakutia). The heap leaching project demanded large financial, material and human investments. The problem was that this technology was not the traditional one and had not been exploited  in the climate of the Republic of Sakha (Yakutia) before. During the pilot gold minig the Association gained a wide experience in production technics, technology deployment and attracted high-level specialists.

In 1998, Seligdar conducted its own geological study and acquired the Samolazovskoye ore deposit with gold reserves of 10 tons. The recovery of gold through heap leaching showed a significant reduction in costs compared to use of traditional technology.

In 1980 – 1998, Seligdar increased production: run-of-mine material amounted to 5.5 million m3  and gold production – to 900 kg in 1996. Due to the depletion of the alluvial gold deposits the Association began to study possibility of gold recovery from the ore deposits in 1995 and prioritized the heap leaching technology.
The Prospectors Association Seligdar was incorporated in 1975  and started to extract gold from alluvial deposits of Seligdar and Orto-Sala rivers, both situated in the Republic of Sakha (Yakutia), Russia. During the first season, Seligdar produced 144 kg of gold and quadrupled the production up to 580 kg by 1980. During 1976 – 1980, the Association added to its assets eight new deposits of alluvial gold.

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