By Jaime Llinares Taboada

 

Polyus PJSC on Thursday reported lower revenue and earnings for the first quarter of the year, reflecting weaker production and sales.

The Russian gold miner said adjusted earnings before interest, taxes, depreciation and amortization fell 35% to $739 million in the first quarter of 2021, compared with $1.14 billion in the fourth quarter of 2020.

Revenue decreased 32% to $1.02 billion, due to a decline in refined gold volumes and the absence of sales of flotation concentrate during the quarter. Gold prices slipped 4% to $1,788 per ounce.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

May 27, 2021 02:35 ET (06:35 GMT)

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