Russia: Polyus gold reserves down in 2018

The gold ore reserves of Russia’s Polyus fell by 4.7%, to 64.4 million ounces as of December 31, 2018, as calculated under the JORC Code, the company said.

Mineral resources rose by 0.8%, to 191.5 million ounces. (Prime/Ukrainian metal)

Russia: 3.5% in Polyus placed on secondary market

A company belonging to Said Kerimov is placing about 4.67 million shares, or a 3.5% stake in Russian gold producer Polyus, on the secondary market.

The offering is proceeding with an accelerated book building.

VTB Capital, Gazprombank, Goldman Sachs, J.P. Morgan and Sberbank CIB act as the organizers. (Prime/Ukrainian metal)

Russia: Polyus Aldan produces first ton of gold

Since the start of the year and as of March 3, Polyus Aldan has produced 1 ton of gold.

In 2017 the first ton was produced on March 13, and in 2018 – on March 6.

In 2018 the enterprise produced 6.2 tons of gold. (Ukrainian metal)

Russia: Polyus IFRS net profit down in 2018

The net profit of Russian gold producer Polyus plummeted by about 60% YoY, to 29.266 billion rubles in 2018, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on February 11. Revenue rose by 16.4% YoY, to 184.692 billion rubles in 2018. Gross profit gained 17%, to 117.347 billion rubles,…

Russia: Polyus gold output up in 2018

In 2018 Polyus produced 2436 thousand ounces of gold, up by 13% YoY. Ore processing grew by 33%, to 38025 thousand tons. The increase is due to Natalkinskiy Mining and Processing Works in Magadan region reaching its design capacity of 10 million tons of ore per year. Revenue increased by 7%, to $876 million. This…

Russia: Fitch improves Polyus ratings

Fitch Ratings has improved the long-term ratings of Polyus from BB- to BB with stable outlook.

The improvement reflects strong operational results of Polyus, the decrease of the debt level and improved possibilities to generate money flow.

The company has also noted Polyus output level and the resource base. (Ukrainian metal)

Russia: Polyus Aldan reaches highest gold output

On October 22 Polyus Aldan reached the highest level of gold output in the past several decades.

Since the start of the year it has extracted 5 tons of gold.

“In Q3 gold output grew by 13% QoQ, due to the increase of ore processing”, the company managing director Alexei Noskov said. (Ukrainian metal)

Russia: Polyus gold output up in Q3 2018

The gold production of Russia’s Polyus increased by 15% QoQ, to 691,200 ounces in July-September, the company said in a statement on October 16.

In January-September the output rose by 14% YoY, to 1.8 million ounces.

Sales amounted to $2.112 billion at the average price of $1.275 per ounce. (Prime/Ukrainian metal)

Russia: Polyus gold output up in Q2 2018

The gold production of Russia’s Polyus increased by 23% YoY, to 602,000 ounces in April-June, the company said in a statement on July 24.

In January-June the output rose by 18% YoY, to 1.109 million ounces.

Sales increased by 6%, to $1.291 billion at the average price of $1.317 per ounce. (Prime/Ukrainian metal)