26 May 2004 02:31
Polymetal mines 3.89 tonnes of precious metals in Au equivalent
MOSCOW. May 26 (Interfax) - St. Petersburg-based precious metals corporation MNPO Polymetal reported precious metals
output of 3.89 tonnes in gold equivalent in the first quarter of 2004, making it one of Russia's leading
producers.
The company, which has not published quarterly results in the past, said in a press release that it mined 1 tonne of
gold and 156.6 tonnes of silver in the period.
Precious metals output in 2003 came to 10.7 tonnes in Au equivalent, 110% more than in 2002. Gold production was 4.5
tonnes and silver production 413.3 tonnes.
The Polymetal group currently consists of the open-ended OAO Polymetal Management Company, limited company ZAO
Polymetal Engineering, four mining companies and eight geological exploration companies in Buryatia, the Khabarovsk
territory and the Sakhalin, Irkutsk, Chita and Magadan regions.
MNPO Polymetal, founded in 1998, is Russia's biggest silver producer and one of the country's top ten gold
mining companies, with 16 licenses to precious metals deposits and prospects. The holding company's overall C1+C2
commercial reserves are estimated at 22,417 tonnes of silver and 205 tonnes of gold. [RU ASIA EUROPE EEU EMRG GOL GDM
MIN RES] pr
[Interfax] |
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