Russia-focused HGM output rises 0.3% to 75,000 ounces Jul–Sep

MOSCOW, Oct 21 (PRIME) -- The output of U.K. Highland Gold Mining (HGM), which mines in Russia, grew 0.3% on the year to 75,000 ounces of gold and gold equivalent in July–September, the company said in a statement on Monday.

Production at the Mnogovershinnoye deposit fell 9.4% on the year to 28,950 ounces in the period, output at the Novoshirokinskoye fell insignificantly to 30,025 ounces, at the Belaya Gora it decreased 28.2% to 9,100 ounces of gold, and at Valunisty 26.3% to 6,950 ounces.

The company confirmed its plans to produce 290,000–300,000 ounces of gold and gold equivalent in 2019, up from 269,500 ounces produced in 2018.

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