The gold output of Petropavlovsk Plc, which operates gold deposits in Russia, decreased by 4.4% YoY, to 107,700 ounces, or 3.35 tons, in January-March, the company said.
Petropavlovsk still plans to raise gold production to 450,000-500,000 ounces in 2019 from 422,300 ounces produced in 2018.
The total cash costs may also rise to $850-950 per ounce from $786 per ounce in 2018 due to additional spending on expansion of capacities of the pressure oxidation facility and on optimization of flotation concentrate production, the company said. (Prime/Ukrainian metal)