Russia’s Kuril Islands gold output falls 9.1% to 1,530 kg in 2016

YUZHNO-SAKHALINSK, Sakhalin Island, Apr 14 (PRIME) -- Gold output on the Urup Island of Russia’s Kuril Islands fell by 9.1% on the year to 1,530 tonnes in 2016 because of difficult logistics and operations on the uninhabited island, local precious metals producer Kurilgeo said in a statement on Friday.

Revenue from the sales of gold rose 6% on the year to 4.07 billion rubles in 2016 due to higher prices on the London Metal Exchange and the U.S. dollar rate.

Silver production rose to 4,521 tonnes from 3,372 tonnes, and revenue from the sales of silver jumped 67% to 163 million rubles.

Kurilgeo also said that its net profit more than tripled on the year to 1.82 billion rubles in 2016 from 597 million rubles in 2015.

(56.6019 rubles – U.S. $1)

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