Russia's Polymetal boosts 2008 gold, silver output

MOSCOW Wed Jan 21, 2009 7:15am GMT

MOSCOW Jan 21 (Reuters) - Russian precious metals miner Polymetal PMTL.MM said on Wednesday output of gold rose to 285,000 ounces last year, up 17 percent on 2007, and silver output increased to 17.2 million ounces, up 8 percent.

Polymetal said in a statement revenues rose by 62 percent last year to $500 million.

The company confirmed its production targets for 2009 at 280,000-300,000 ounces of gold and 17-18 million ounces of silver. (Reporting by Aleksandras Budrys)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.