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.
Edited by: Reuters
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