Yuzhuralzoloto Group of Companies

What Yuzhuralzoloto Group of Companies does

Yuzhuralzoloto Group of Companies (PAO YUGK, ticker UGLD) is a Russian vertically integrated gold mining company, founded in 1997 and headquartered in Chelyabinsk with corporate offices in Moscow. The company operates two regional production hubs — the Ural Hub in Chelyabinsk Oblast and the Siberian Hub spanning Krasnoyarsk Krai and the Republic of Khakassia — encompassing 17 mining operations (10 active ore deposits plus 7 under exploration) and 8 processing facilities. Core technology is conventional cyanidation with carbon adsorption (CIL/CIP), flotation, and gravity concentration, with over 90% of production from open-pit mining. Total MI&I resources stand at 46 million troy ounces (JORC, 2019), ranking 2nd in Russia by reserves and 4th by production, with 2024 gold sales of 341 thousand troy ounces generating RUB 75.9 billion in revenue and RUB 34.4 billion in EBITDA (45% margin).

The company runs a fully integrated production chain from ore extraction through dore alloy (~80% gold content) to refined gold bars (0.995+ purity) produced at its Shchelkovsky Plant of Secondary Precious Metals, acquired in 2017. Refined gold is sold via commodity exchanges and direct contracts to central banks, jewelry manufacturers, investment/financial institutions, and industrial buyers, with shipments typically transported by air. The company has been publicly traded on the Moscow Exchange since November 2023 and joined the IMOEX and RTSI indices in December 2024. In July 2025, a court ruling nationalized the 67.2% controlling stake from Konstantin Strukov to the Russian state, which was subsequently sold to BTS-Most Holding for RUB 93.2 billion (~$1.26 billion) in June 2026.

Name

Yuzhuralzoloto Group of Companies

Legal name

Public Joint Stock Company "Yuzhuralzoloto Group of Companies" (ПАО «Южуралзолото Группа Компаний»)

Website

https://ugold.ru

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Yuzhuralzoloto Group of Companies is a Russian vertically integrated gold mining company operating twin-hub ore extraction and refining (to 0.995+ purity), ranking 4th in Russia by production and 2nd by reserves, selling to central banks, jewelers, and financial institutions.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290)

SIC

Gold And Silver Ores (1040), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Precious Metals Ore Processing & Beneficiation (IMAKAEAD), Precious Metals Smelting & Refining (IMAKAEAE), Precious Metals Minting & Bullion Products (IMAKAEAJ)

Keywords

• Gold mining operations
• Precious metals refining
• Lode gold extraction
• Placer gold mining
• Ore processing services

Headquarters

HQ city

Chelyabinsk

HQ country

Russia

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Others

Revenue model

1. Gold Mining and Sales: Primary revenue from extraction and sale of gold. The company sells gold doré alloy and refined gold bars to central banks, jewelry manufacturers, and industrial buyers. Revenue is commodity price-dependent and denominated in rubles. 2024 gold sales: 341 thousand troy ounces; revenue: RUB 75.9 billion.
2. Gold Refining Services: The Shchelkovo Secondary Precious Metals Plant provides gold refining services, producing refined gold to 0.995+ purity, which can be sold at premium prices.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Yuzhuralzoloto Group of Companies is a vertically integrated Russian gold producer that extracts gold ore from 17 mining operations across the Ural and Siberian hubs, processes it at 8 ore-processing facilities using cyanide leaching and carbon adsorption (CIL/CIP), and refines it at the Shchelkovo Secondary Precious Metals Plant to produce gold doré alloy (~80% gold) and refined gold bars at 0.995+ purity for sale to central banks, jewelry manufacturers, financial institutions, and industrial buyers.

Product overview

Yuzhuralzoloto Group of Companies (YUGK/ЮГК) is a gold mining company operating as a vertically integrated producer from ore extraction to refined gold. The company operates two regional hubs (Ural and Siberian) and 17 main assets including active deposits, exploration sites, and processing facilities. Core products include lode gold mining (90%+ of production via open-pit and underground operations), placer gold mining (~4%), and in-house refining producing gold doré and refined gold at 0.995+ purity. Processing uses cyanide leaching and carbon adsorption technology. The company also offers an investor relations platform including a dividend calculator tool for shareholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Gold Mining Operations Extraction of lode gold from open-pit (over 90% of production) and underground (less than 10%) mines across two regional hubs: the Ural Hub in Chelyabinsk Oblast (with deposits including Koksharskoye, Bereznyakovskoye, Svetlinskoye, and Kurasan) and the Siberian Hub in Krasnoyarsk Krai and Khakassia (with deposits including Vysokoye, Dobroye, Sovetskoye, Zolotoye, Kommunar, and others). Ore is transported by haul trucks to processing facilities. The company's 17 main assets comprise 10 active ore gold deposits and 7 under exploration.
• Gold Processing and Refining Gold ore processing using cyanide leaching and activated carbon adsorption (CIL/CIP) technology at gold extraction plants (ZIF), producing gold doré alloy at approximately 80% gold content. Includes in-house refining at the Shchelkovo Secondary Precious Metals Plant in Moscow Oblast, acquired in 2017, which produces refined gold bars at 0.995+ purity for sale at premium prices.
• Placer Gold Mining Hydraulic mining operations via OOO AS Priisk Drazhny in Krasnoyarsk Krai (part of the company since 2006), extracting placer gold from riverbeds and streams using hydromechanical methods (gravity separation by washing). Placer gold accounts for less than 4% of total production.

Quantifiable outcome

• Gold production capacity increase to 750k troy ounces by 2027, targeting top-3 in Russia
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators11 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Polyus: Polyus is the largest gold producer in Russia and the third-largest globally by output. Directly comparable to Yuzhuralzoloto as a vertically integrated Russian gold miner with both open-pit and underground operations and Moscow Exchange listing.
• Highland Gold Mining: Highland Gold is a London-listed Russian gold miner with operations in Khabarovsk, Zabaykalsky Krai, and Chukotka. Highly comparable on geography, customer base, and asset structure, though smaller in scale than Yuzhuralzoloto.
• Polymetal International: Polymetal is a major gold and silver producer with significant Russian/CIS operations (Amur, Magadan, Khabarovsk). Comparable mining methods (open-pit, underground, flotation/cyanidation) and doré-to-refined-gold sales model.
• Nordgold: Nordgold is a major gold producer with a portfolio dominated by Russian assets (Burkina Faso, Guinea, Kazakhstan, and Russia). Operates an integrated model from mining through refining and serves the same customer mix of central banks, refiners, and industrial buyers.
• Petropavlovsk PLC: Petropavlovsk operated gold mines in the Amur region of Russia before entering administration. Previously a direct competitor to Yuzhuralzoloto on Russian-listed gold production and remains a structurally relevant peer for the segment.

Broad incumbents

• Kinross Gold: Kinross Gold is a senior global gold producer with operations across the Americas and West Africa. Comparable as a mid-to-large gold miner with similar open-pit and underground mix, refining capabilities, and sales to central banks and bullion traders.
• Agnico Eagle Mines: Agnico Eagle is a senior Canadian gold miner with operations in Canada, Mexico, Finland, and Australia. Comparable as a long-life reserve gold producer selling doré and refined gold to the same global end-buyer base.
• Newmont Corporation: Newmont is the world's largest gold mining company. Relevant as a global benchmark for vertically integrated gold mining, doré-to-refined-gold processing, and sales to the same end-buyers (central banks, jewelry makers, industrial users).
• Barrick Gold: Barrick Gold is one of the world's largest gold producers with operations across North America, South America, Africa, and the Pacific. Comparable on production scale, ore-processing technology (CIL/CIP), and doré-to-refined-gold sales model.

Regional players

• Seligdar: Seligdar is a Russian gold and tin miner listed on Moscow Exchange, producing primarily in the Republic of Sakha (Yakutia). Comparable as a regional Russian gold producer with similar doré-to-refined-gold sales flow and Russian-focused customer base.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yuzhuralzoloto Group of Companies