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Russian gold producer increases gold output forecast
Published by: Jarosław Adamowski
Gold output to rise Russia’s largest gold producer Polyus has increased its gold output forecast to between 2.075 and 2.125 moz in 2017, 2.35 to 2.40 moz in 2018, and 2.8 moz in 2019.
“Polyus’established track record of operational excellence and delivery of consistent production growth gives us confidence in producing 2.8 moz of gold in 2019. This exceeds the previously announced guidance of producing at least 2.7 moz by 2020,”Pavel Grachev, the company’s chief executive officer, was quoted in a statement.
Polyus is controlled by the family of Russian billionaire Suleiman Kerimov. The company says it is one of the world’s top ten gold producers, and holds the world’s fourth largest gold reserves, with some 64.3 million ounces of proven and probable gold reserves. Polyus operates five mines, and has its principal operations located in Krasnoyarsk, Irkutsk and Magadan regions, and the Sakha Republic.