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Polymetal has signed contracts for the implementation of the May concentrate with three buyers from the PRC
Polymetal Group of Companies has reported on the results of production activities for the second quarter and the first half of 2014. According to the company's materials, in the first half of 2014, Polymetal produced 652 thousand ounces of gold equivalent, which is 17% more than in the same period last year. The original production target (1.3 Moz) in 2014 is expected to be overfulfilled by approximately 5%.
Quarterly production was 335 thousand ounces in gold equivalent, which is 4% higher than in the second quarter of last year. The steady work of the Amursky MMC, as well as the growth of the contents and productivity at Dukat and Omolone, compensated for the planned decrease in the contents at Varvara and Khakanja. Quarterly gold production was 196 thousand ounces, which is 3% higher compared to the same period last year. Quarterly silver production was 8.1 million ounces, which is 8% higher compared to the same period last year.
During Quarter II, Polymetal signed contracts for the implementation of Maysky concentrate with three buyers from the PRC, having achieved a significant improvement in conditions compared to contracts 2013 of the year. The first shipments of concentrate from Mayskoye to Amursky MMC and to China are expected in August.