•  Gold Price:  
  • 1256.44
Company profile

Auriant Mining in brief

Auriant Mining AB (“AUR AB”) is a Swedish junior mining company, focused on gold exploration and production in Russia. The company has two producing mines, Tardan in the Republic of Tyva, and Solcocon in the Zabaikalsky region. In addition, it has one early stage exploration property – Uzhunzhul in the Republic of Khakassia, and an advanced exploration property - Kara-Beldyr, in the Republic of Tyva, which was 100% consolidated in 2014

Auriant’s main assets comprise a number of mineral licenses held by the various subsidiaries. The licenses as at the end of December 2014 contained official Russian State Reserves Committee (GKZ) reserves of 829 500, 000troyounces (1 oz = 31.1 g) in the C1 and C2 categories and 500,000 troy ounces in NI 43-101 standard.

In 2014 Auriant employed an average of 802 employees, excluding contractors. In 2014, 1,079 kg (34,689 oz) of gold was produced.

Auriant is headquartered in Stockholm, Sweden, and is listed on the Swedish NASDAQ OMX First North Premier stock exchange. The number of shareholders was approximately 2,700 and the company had 17,802,429 ordinary shares in issue as of December 31, 2014 and a market capitalization of approximately MSEK 48.78 (equivalent to US$ 6.3 m).

Our Goal

Our long term goal is to become a leading, sustainable and efficient medium sized gold producer. In a low gold price environment, we will achieve this through creating value for our shareholders by minimizing risks related to exploration, mining, and processing of our mineral resources and increasing efficiency. Our primary focus is on gold production in Russia but we may diversify into other minerals and countries over time.

Our Strategy

The growth and sustainability of the Company will rely on: 1) in the short term, a focus on reducing costs and increasing production of our existing assets to full capacity; 2) in the medium term, continuing exploration at our existing properties to expand resources, extend mine lives, and construct and place new mines into production; and 3) in the medium to long term position Auriant as a consolidation vehicle for Russian gold assets.

Our values

People

Safety
People are our most important asset. Our mines are built and operated by our employees and it is our highest priority to create and maintain a safe and healthy working environment for them. We are constantly searching for new and innovative methods to ensure the safety of our employees. We can proudly say that the level of accidents and injuries is very low in the company compared to the rest of the sector.

Respect
We are committed to providing a positive working environment free of discrimination and harassment in all of our activities. We act and treat each other with dignity and respect. We believe that employees who are treated with respect have a higher level of professional performance. All of our employees are given equal opportunities for career development. We reward and encourage teamwork, creativity and innovation.

Environment and the Community

Social responsibility
We are actively engaged in the local communities in the areas in which we operate by, among other things, by supporting and contributing to education and infrastructure and by prioritizing the local population when employing staff.

Responsible mining
Environmental responsibility is a central issue in a company with operations involving environmental risks. The majority of the Company’s activities are carried out in areas which are sensitive to the impact of mining operations. Auriant understands that there are people living close to our operations and, therefore, seeks to minimize the negative impact of our operations on the environment by focusing on adopting innovative technologies, continuously optimizing resource utilization and decreasing waste.

Integrity and Corporate Governance

Auriant’s success is dependent on trust and support from all stakeholders, including shareholders, employees, suppliers, contractors, Government, and local communities, which is why we are committed to the highest standards of integrity and sustainability. We have zero tolerance for corruption and aim to have the maximum level of transparency in our dealing with Government authorities, defending our interests in court when necessary. We genuinely believe that good corporate governance adds shareholder value and, therefore, the majority of our Board is composed of non-executive, independent directors with extensive experience in mining and in running public companies. Going forward, we intend to further strengthen our corporate governance in order to deliver maximum shareholder value.

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