Polyus gold output falls 11% to 684,200 ounces in Oct–Dec 2021

MOSCOW, Feb 8 (PRIME) -- Russia’s Polyus gold production fell by 11% on the quarter to 684,200 ounces in October–December 2021, the company said in a statement on Tuesday.

Sales revenue shrank by 8% to U.S. $1.274 billion, while the average price stood at $1,802 per ounce, rising by 1%, the company said quoting preliminary data. Sales decreased by 8% to 712,000 ounces.

Net debt increased by 13% in the quarter to $2.197 billion as of December 31.

In 2021, Polyus’ gold production decreased by 2% on the year to 2.717 million ounces. Sales went down by 3% to 2.736 million ounces worth $4.904 billion, a decrease of 1%. The average sales price gained 1% to $1,798 per ounce.

Polyus also affirmed the forecast for gold production in 2022 of 2.8 million ounces.

End %%md/jst%%