Polymetal can exceed production plan

Polymetal Group has summed up its operational results for H1 and Q2 of 2014. In January – June, precious metals yield increased by 17% to 657,000 ounces in gold equivalent. The initial plan for production of 1.3 million ounces will be exceeded by 5%.

In Q2, production increased by 4%. The stable operation of Amur GMK, and the growth in content and yield at Dukat and Omolon compensated for the reduction in content at Varvarinskoye and Khakanjinsky. Gold production increased by 3% to 196,000 ounces in Q2, and silver production increased by 8% to 8.1 million ounces.

While Q2, Polymetal signed the sales contracts for Mayskoye concentrate with 3 Chinese clients, having achieved considerable improvement of the terms in comparison to the contracts of 2013. The first dispatches of concentrate from Mayskoye to the Amur GMK and China are awaited in August.