Nordgold delivers strong performance this year

LONDON – Nord Gold SE, the internationally diversified gold producer, is well set to deliver an excellent result for the year. The strong performance this year has, in particular, been driven by its new Gross mine, the professional team of which has delivered outstanding results from the day it was launched.

The time spent de-risking the project, refining the geological model, effectively managing the engineering, design and construction of the mine and appointment of a strong management team has paid off.

This, once again, highlights company’s proven track record in delivering new, large scale, highly efficient, long term mining projects. Maintenance investments undertaken in the third quarter at our Bissa and Lefa operations, are expected to have a positive impact in 2021.

“With a well invested asset base, an outstanding team in place and an ingrained commitment to making a positive contribution to our host communities, Nordgold is very well placed to continue driving value across its operations for all stakeholders,” said Nikolai Zelenski, Chief Executive Officer, Nordgold.

Refined gold production was flat year-on-year (YoY) despite the challenges presented by the unprecedented global pandemic. The strong production results were mainly driven by excellent operating performances at the Gross, Taparko, Irokinda, Berezitovy and Suzdal mines, more than offsetting lower production at other mines.

All-in sustaining costs (AISC) decreased by 2% YoY to US$998/oz, mainly due to higher gold production from the efficient Gross mine, as well as lower costs at the Taparko, Irokinda, Berezitovy and Suzdal mines.

Nord Gold S.E., is a gold mining company with assets in Russia, Kazakhstan, Burkina Faso, Guinea and Canada.

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