Polyus 4Q Profit, Revenue Rise on Higher Gold Prices
February 25 2021 - 3:33AM
Dow Jones News
By Adria Calatayud
Polyus PJSC said Thursday that fourth-quarter profit and revenue
rose as higher gold prices offset a drop in production.
The Russian gold miner said profit for the quarter rose to $835
million, up 20% on year, on revenue that increased 18% to $1.52
billion.
Adjusted earnings before interest, taxes, depreciation and
amortization for the quarter were up 29% at $1.14 billion.
Gold production for the quarter fell 12% on year to 710,000
ounces, but average refined gold selling prices were 26% higher,
Polyus said.
The company said it expects total gold output of around 2.7
million ounces in 2021, including a temporary reduction of head
grades at its Olimpiada operation in Russia.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 25, 2021 03:17 ET (08:17 GMT)
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