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Russian gold producer increases gold output forecast

Photo by Polyus
Photo by Polyus
Publicerad av
Webmaster - 08 jun 2017

Published by: Jarosław Adamowski

Gold output to rise Russias 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.


Polyusestablished 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 companys 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 worlds top ten gold producers, and holds the worlds 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.