January 23, 2020 / 7:24 AM / a month ago

Russia's Polymetal Q4 revenue up 1% y/y

MOSCOW, Jan 23 (Reuters) - Polymetal, one of Russia’s largest gold and silver producers, said on Thursday its fourth quarter revenue rose 1% year-on-year to $643 million as lower output volumes were offset by increasing prices.

The company said it had produced 312,000 ounces of gold in the fourth quarter, 25% lower than in the fourth quarter of 2018.

Polymetal added it expects capital expenditures at $475 million in 2020. (Reporting by Anastasia Lyrchikova; Writing by Polina Ivanova; Editing by Polina Devitt)

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