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…