Crocodile Gold Corp. of Canada and Petropavlovsk of Russia, two of the world's top gold miners, both expect favorable production yields of the gold metal in 2012.

In a statement, Crocodile Gold Corp. said it expects its mines to produce between 75,000 and 85,000 ounces of gold in 2012, at a cash cost of US $1,100 to $1,300 per ounce. Majority, or more than 70 per cent of total gold production, is expected to come from its Cosmo Mine.

Russia-focused gold miner Petropavlovsk, meanwhile, said it targets 2012 production to jump 11 per cent to 680,000 ounces total over 2011, anchored on higher expected output at its flagship Pioneer mine.

In November 2011, Crocodile Gold Corp. slashed its 2011 output target from 85,000-100,000 ounces due to lower grades and delayed operations experienced at the Cosmos mine.

Crocodile Gold Corp. said production production ore may be expected in the first quarter of 2012, noting the Cosmo Mine will reach commercial production in the second half of 2012, by which majority of Cosmo Mines' contribution to the expected annual production will come at this time.

Meanwhile, Petropavlovsk, which operates four open-pit gold mines in Russia's Far East, gave 630,100 ounces during 2011, ahead of its own 600,000 ounces forecast, and represented a 24 per cent advance over 2010.

"The group's 2012 target is 680,000 ounces ... a compound annual growth rate of 26 per cent since the group first listed in 2002," the company said in a statement.

"In line with the group's conservative approach to forecasting, this target excludes the scheduled expansions at Pioneer and (new mine) Albyn," it added.

Following operational improvements, its Pioneer mine gave a 56 per cent increase to overall production last year. Albyn, Petropavlovsk's fourth mine, was only commissioned late last year and produced its first gold only in December.

Shares of Petropavlovsk jumped more than seven per cent today after it revealed record breaking results for 2011.

Crocodile Gold, a Canadian company operating gold mines in the Northern Territory of Australia, is currently mining a number of open pits in the Howley Corridor. The Company is also developing the Cosmo underground mine. Ore is processed at the Union Reefs Mill with a capacity of 2.4 million tonne per year.