Petropavlovsk PLC (LON:POG) produced 548,100 ounces of gold in 2020, up from just over 517,000 in 2019.
"Faced with several challenges in 2020, and in Q4 in particular, we were still able to deliver a notable 6% year-on-year increase in gold production, slightly below our guidance but broadly in line with market expectations,” said chief executive Denis Alexandrov in a statement.
“We also made solid progress on our development projects such as the Pioneer flotation plant and Malomir expansion. The new management team and I have started visiting the mines and conducting a comprehensive review of our operations, management structure, and budget and forecast for 2021. This work will position us to update our guidance on production and capital expenditure targets for the year ahead."
Logistical issues associated with the coronavirus pandemic hindered production in the final quarter.