Moscow August 21 news, Russian gold and silver producer Polymetal said on Tuesday that the company’s net income in the first half of 2018 climbed 46% year-on-year to 175 million US dollars, both increased production and sales.
Polymetal recently launched the operation of its Kyzyl mine in Kazakhstan, which will produce 80,000 ounces of gold this year.
Polymetal CEO Vitaly Nesis said in a statement: “We expect production to increase in the second half of the year with free cash flow.”
Polymetal said the company is expected to produce 1.55 million ounces of gold equivalents of gold and other metals this year, with total cash costs expected to be in the range of $650-700 per ounce.
| POLYVINYL ALCOHOL |