Home Business NewsBusinessBusiness Growth Polymetal revenues soar amid gold and silver hikes

Polymetal revenues soar amid gold and silver hikes

by LLB Finance Reporter
26th Aug 20 1:31 pm

In the first six months of the financial year there has been a soaring rise in gold and a rise in silver which has helped boost the miner, Polymetal’s results.

The mining company who extract the metals from Kazakhstan and Russia, said gold sold has jumped by 25%, whilst silver has risen by 10%.

Revenue confidence has risen by 21% to more than $1.1bn during the six months.

Polymetal’s chief executive Vitaly Nesis said, “We are pleased to report a strong financial performance in the first half of the year amidst a challenging global backdrop.

“Favourable commodity prices and our tight cost control, as well as the impact of foreign exchange and improved grades, drove a significant increase in the Group’s earnings, cash flow and dividends.”

Neiss added, “Importantly, we’ve been able to minimise the impact of the Covid-19 pandemic on our people, communities, and operations. Our key development projects continue to progress on schedule.”

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