MOSCOW, January 31 (RIA Novosti) - Polyus Gold [RTS: PLZL], Russia's top gold producer, said on Thursday its unaudited earnings calculated to International Financial Reporting Standards grew 16% year-on-year to $855 million in 2007.

EBITDA (earnings before interest, taxes, depreciation and amortization) is expected to stand at $300-$320 million for 2007, slightly more than in 2006, the company said.

The company's gold output in 2007 reached 37.8 metric tons (1.3 million troy ounces). Gold production in 2006 was 1.2 million troy ounces.

Gold prices have been given a boost by the threat of a U.S. recession and the continued weakening of the dollar against other world currencies.