Gold output of precious metals producer Polymetal International rose by 21% YoY, to 1.075 million ounces, while silver production decreased by 8%, to 26.8 million ounces in 2017, it said in a statement on January 24.
Total output in gold equivalent grew by 13% YoY, to 1.433 million ounces, overshooting the production plan by 2%.
The company expects expenses to amount to $650-675 per ounce in gold equivalent in 2017, compared to more than $600-650 per ounce projected earlier because of higher diesel fuel prices and a strengthening ruble.
Polymetal has confirmed its 2018 production plan at 1.55 million ounces in gold equivalent and 1.7 million ounces in gold equivalent in 2019. (Ukrainian metal)