Petropavlovsk raises Q1 gold output by 8% to 103,000 ounces

MOSCOW, Apr 22 (PRIME) -- Russian gold producer Petropavlovsk Plc raised its gold output by 8% on the year to 103,000 ounces in January–March, the company said in a statement on Friday.

The average sales price in the reporting period went up to U.S. $1,871 per ounce from $1,789 per ounce in the same period of 2021.

The company retained its 2022 gold production guidance at 345,000–365,000 ounces and cut the recommendation for gold concentrate production by third parties to 30,000–40,000 ounces from 35,000–55,000 ounces due to supply disruptions.

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