Support The Moscow Times!

Nord Gold Q1 Revenue Up

Nord Gold reported an 8 percent increase in first-quarter revenue to $264 million, year on year, thanks to higher gold prices, although first-quarter gold output fell 11 percent to 155,700 troy ounces due to "short-term factors which have been largely rectified," the company said Tuesday.

The company reduced its production at mines Lefa in Guinea, Taparko in Burkina Faso and Berezitovy and Neryungri in Russia due to temporary mechanical bottlenecks.

Nord Gold said it remained on track to achieve a full-year production target of 800,000-850,000 gold equivalent ounces in 2012. Average realized gold prices for Nord Gold rose to $1,689 per ounce in the first quarter, up 20 percent.


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.