Petropavlovsk says to cut gold production by 14–21% in 2021

MOSCOW, Mar 31 (PRIME) -- Russian gold producer Petropavlovsk plans to cut production by 14.2–21.5% in 2021 to 430,000–470,000 ounces, the company said in a statement on Wednesday. 

The company plans capital expenditures at U.S. $140 million in 2021, including $120 million to be spent on development and maintenance and about $20 million on geological exploration.

In 2020, capital expenditures amounted to $118 million.

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