Support The Moscow Times!

Polymetal Q1 Up 64%

Polymetal International said Monday that first-quarter revenue jumped 64 percent from the same period a year earlier, setting the company up to achieve its full-year target.

Sales reached $377 million in the three months as prices and output increased. Gold production grew 24 percent to 101,000 troy ounces, while silver output climbed 74 percent to 5.7 million ounces, Polymetal said. Total output was 203,000 gold-equivalent ounces.

"First-quarter production didn't include 32,000 ounces of gold in concentrate produced at the Albazino mine and stockpiled there in the period in the absence of navigation on the Amur River," chief executive Vitaly Nesis said.

(Bloomberg)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more