Nordgold Announces 9m 2020 Operating Results and Sustainability Update

London, United Kingdom, 9 November 2020 - Nord Gold SE (“Nordgold” or the “Company”), the internationally diversified gold producer, announces unaudited operating results and sustainability update for the third quarter and nine months ended 30 September 2020.

“Nordgold is well set to deliver an excellent result for the year. The strong performance this year has, in particular, been driven by our 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 clearly paid off. This, once again, highlights our 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.”

Nikolai Zelenski, Chief Executive Officer, Nordgold

9m 2020 Highlights

  • Lost Time Injury Frequency Rate (LTIFR) improved to 0.93 in 9m 2020 with zero employee fatalities and one contractor fatality at the Suzdal mine in June 2020.
  • 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.
  • In addition to the support that Nordgold is providing to its host countries and communities in combating the spread of COVID-19, we continued to invest in infrastructure and the development of local communities during 2020.
  • Nordgold
    Olga Ulyeva
    Head of Corporate Communications

    Peter Ogden Tel: +44 (0) 20 7250 1446
Press release
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