The Ukrainian Metal

Russia: HGM gold output up in Q1 2019

The output of the U.K. Highland Gold Mining (HGM), which mines in Russia, grew by 21% YoY, to 71,961 ounces, or 2.2 tons, of gold and gold equivalent in January-March, the company said in a statement on April 25.

Production at the Mnogovershinnoye deposit jumped by 58% YoY, to 30,600 ounces, output at the Novoshirokinskoye fell by 28%, to 22,300 ounces, but at the Belaya Gora grew by 31%, to 11,800 ounces of gold.

The company confirmed its plans to produce 290,000-300,000 ounces of gold and gold equivalent in 2019, up from 269,500 ounces produced in 2018. (Prime/Ukrainian metal)

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