JSC Polymetal said that its fourth quarter operating performance confirmed its expansion progress with gold production rising 10% to 136 Koz and silver production increasing 20% to 6.4 Moz quarter on quarter, driven by the strong performance at Dukat, gains at Khakanja and concentrate exports at Albazino.

Fourth quarter silver production at the Dukat operations grew 72% YoY underpinned by significant improvements in recoveries and throughput at the Dukat mill following the completion of a complex expansion project. Grades at the Dukat mine dropped modestly, but overall grades processed at the Dukat mill improved due to inclusion of higher grade feed from the Goltsovoye mine.

Quarterly gold and silver production at Khakanja went up by 37% and 19% quarter on quarter respectively, as high-grade ores from Avlayakan and Sopka were processed at the plant, whereas at Voro it declined 12%QoQ and 17% YoY mostly as a result of planned decrease in grades and recoveries at the CIP plant driven, in turn, by the exhaustion of the Degtyarskoye satellite mine.

(Sourced from RTTNews)