Support The Moscow Times!

Nord Gold Profit Up 32%

Nord Gold, Russia's third-largest gold producer, reported on Friday a 32 percent year-on-year increase in third-quarter net income to $58 million boosted by higher sales.

The company's revenue rose 27 percent year-on-year to $322.5 million, Nord Gold said in October.

Its EBITDA were up 18 percent to $131.5 million, the company, controlled by businessman Alexei Mordashov, added on Friday.

Nord Gold, which also operates in Kazakhstan and West Africa, confirmed its full year production guidance of between 720,000 and 770,000 ounces of gold equivalent — a measure of gold and other metals expressed in units of gold.

Related articles:

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

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 every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

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

Read more