Petropavlovsk gold output falls 4.4% to 107,700 oz in Jan–Mar

MOSCOW, Apr 24 (PRIME) -- The gold output of Petropavlovsk Plc, which operates gold deposits in Russia, decreased 4.4% on the year to 107,700 ounces, or 3.35 tonnes, in January–March, the company said in a statement on Wednesday.

Petropavlovsk still plans to raise gold production to 450,000–500,000 ounces in 2019 from 422,300 ounces produced in 2018. The total cash costs may also rise to U.S. $850–950 per ounce from $786 per ounce in 2018 due to additional spending on expansion of capacities of the pressure oxidation facility and on optimization of flotation concentrate production, the company said.

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