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.


… 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.


Read more