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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.

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