Polymetal plans to invest $400Ц450 mln in production/yr in '20Ц25 - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Polymetal plans to invest $400Ц450 mln in production/yr in '20Ц25

MOSCOW, Sep 9 (PRIME) -- Russian gold producer Polymetal plans to invest U.S. $400Ц450 in development in 2020Ц2025 annually, Yevgeny Monakhov, head of the investor relations department, said at a forum on Wednesday.

He said that production is to rise by 17% in the period as the Nezhdaninskoye deposit in the republic of Yakutia and Veduga in the Krasnoyarsk Region will be launched, and the second pressurized tool will start to be used.

He said that the company will use its own and borrowed money to finance development. "The debt burden of the company is low and falling fast," Monakhov said.

He added that the debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio is 1.3 and can fall below 1 as the U.S. dollar rate and gold prices change.

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09.09.2020 14:28
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