- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Polymetal's silver, gold production drops 8%, 5% in 2007

Subscribe
MOSCOW, January 28 (RIA Novosti) - Polymetal, one of Russia's largest gold and silver producers, reported on Monday a 8% and 5% drop in silver and gold output in 2007 to 15.9 million and 242,000 ounces year on year respectively.

"The year 2007 proved to be the lowest point for our company both in production and financial results," Polymetal CEO Vitaly Nesis said.

The company plans to produce 250,000-270,000 ounces of gold and 17-18 million ounces of silver this year.

Polymetal runs operations in Russia's Far East (the Magadan Region and Khabarovsk Territory), and Siberia (the Sverdlovsk and Chita regions, and the Krasnoyarsk Territory).

Last Friday, Polymetal closed a deal to buy a promising project, Kubaka, in the Magadan Region.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала