Support The Moscow Times!

Polymetal Off Target

Polymetal declined by 1.8 percent in Moscow trading by midday Monday after Kommersant reported that the Russian silver and gold producer may miss its output target this year.

The company may fall short of its 2011 target of 1 million ounces of gold by as much as 10 percent, the newspaper reported, citing an unidentified source.

Polymetal may be forced to delay the start of its processing plant in the Amur region for "technical reasons," Kommersant said. Polymetal vice president Pavel Danilin declined to comment on the report Monday.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.