The state corporation Vnesheconombank has left the shareholders of the gold-extracting company Pavlik, which develops the deposits of the same name in Magadan region.

The share of the bank in the company dropped from 9.9% to 0%.

According to the bank the move was planned. VEB left Pavlik when it reached the design capacity of ore processing of 4 million tons per year (some 8 tons of gold).

By 2020 Pavlik intends to have reached the annual output of 13 tons of gold.

Pavlik has been developing the deposits since 2008. Last year it extracted 6.5 tons of gold. (Ukrainian metal)


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