Polyus 3Q Profit Rose, Driven by Higher Gold Production
November 23 2021 - 3:19AM
Dow Jones News
By Jaime Llinares Taboada
Polyus PJSC on Tuesday reported an improved profit for the third
quarter, as production rose well above the immediately prior
period.
The Russian gold miner achieved a profit of $664 million in the
three months ended Sept. 30, up 3% from $643 million in the second
quarter.
Production grew 15% on quarter to 770,000 ounces. This more-than
offset a 2% drop in the average selling price, to $1,787 an ounce,
and a 9% increase in total cash costs, to $427 an ounce.
Polyus said higher costs were driven by structurally higher-cost
alluvial operations and inflation in consumables and diesel prices.
The company reiterated full-year total cash cost guidance of
$425-$450 an ounce.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
November 23, 2021 03:04 ET (08:04 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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