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Polymetal says Q2 revenue up 26% to $385m

25th July 2017

By: Reuters

  

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MOSCOW – Russian gold and silver producer Polymetal said on Tuesday its second-quarter revenue rose 26% year-on-year to $385-million due to an increase in production and higher sales of gold.

The company, part-owned by businessman Alexander Nesis, said its gold equivalent production, a mixture of gold and other metals, rose by 6% over the same period to 278 000 troy ounces.

Polymetal is still on track to produce 1.4-million ounces of gold equivalent in 2017 at a total cash cost of $600/oz to $650/oz, the company also said in a statement.

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Edited by Reuters

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