×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Petropavlovsk Sales at $1Bln

LONDON — Peter Hambro, chairman of Petropavlovsk, a London-based gold miner in Russia, said Thursday that sales reached $1 billion and that the company forecast further growth this year.

Petropavlovsk expects to produce 680,000 ounces in 2012 after output last year expanded 24 percent to 630,100 ounces, beating the company's target of 600,000 ounces. "Our gold sales for 2011 will be in excess of $1 billion for the first time," Hambro said.

Petropavlovsk sold 676,000 ounces of gold in 2011, 51 percent more than in 2010, at an average price of $1,617 an ounce, the company 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.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more