March 4, 2020 / 7:15 AM / in a month

Russia's Polymetal posts record net profit amid higher gold prices

MOSCOW, March 4 (Reuters) - Polymetal, one of Russia’s largest gold and silver producers, said on Wednesday its 2019 net earnings rose by 36% to a record high of $483 million due to stronger global gold prices and higher output.

Its production of gold equivalent, a mix of gold and other metals, rose by 3% to 1.61 million troy ounces in 2019 and exceeded Polymetal’s initial guidance of 1.55 million ounces. The average price of its gold and silver rose by 13% and 11%, respectively. (Reporting by Anastasia Lyrchikova; writing by Polina Devitt; editing by Maria Kiselyova)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below