Russia-focused HGM output rises 21% to 71,961 ounces Jan–Mar

MOSCOW, Apr 25 (PRIME) -- The output of U.K. Highland Gold Mining (HGM), which mines in Russia, grew 21% on the year to 71,961 ounces, or 2.2 tonnes, of gold and gold equivalent in January–March, the company said in a statement on Thursday.

Production at the Mnogovershinnoye deposit jumped 58% on the year to 30,600 ounces in the period, output at the Novoshirokinskoye fell 28% to 22,300 ounces, and at the Belaya Gora it grew 31% to 11,800 ounces of gold.

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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