MOSCOW - Russia's largest gold producer Polyus plans to increase gold output by 4% to 2.8-million troy ounces in 2022, it said on Wednesday.
Polyus, the world's fourth-largest gold producer, will raise production further in 2023 to 2.9-million troy ounces but will keep capital expenditures stable compared with 2021, it said in a statement.
The company's Olimpiada mine in Siberia will increase ore processing capacity to 15-million tonnes in 2022 from 14.3-million tonnes this year, Polyus said.
Polyus also said that capacity at its Kuranakh deposit will rise to 7.5-million tonnes of ore in 2024 from 6-million tonnes this year.
The company's total cash costs (TCC) will remain stable at between $425/oz and $450/oz of gold in 2022 and between $400/oz and $450/oz in 2023.