Polyus gold with strong organic growth
April 18.04.2012, XNUMX Moscow - The fact that Polyus Gold is one of the few established gold companies that can expand its production comparatively easily is shown by the recently published figures for output in the first quarter of the current year.
All in all, between January and March, the Russians extracted 2012 328.000 ounces of yellow metal. Compared to the first quarter of 2011, when it was only 258.000 ounces, this represents a more than sizable plus of 27 percent. Particularly pleasing: Growth was above all organic and was not primarily generated by acquisitions.
Mine extensions are already having an effect
The noticeable increase in output was made possible primarily by the fact that Polyus Gold has expanded its production capacities in several mines. Both the Olimpiada and Blagodatnoye mines, both of which are located in the Krasnoyarsk region of Eastern Siberia, have lost significantly more gold than a year ago. The same applies to the Kuranakh gold mine in Yakutia in northeastern Russia. In addition, preparatory work was also carried out to increase the output of the Verninskoye Mine near Irkutsk in eastern Siberia.
Company continued optimistic
Against the backdrop of this strong organic growth, the company is also optimistic about the future. After all, Polyus Gold operates a variety of producing mines and exploration projects in five Russian regions with huge gold deposits. The modernization and expansion measures carried out so far only concerned selected deposits. But the other properties undoubtedly also have the potential to produce more in the medium to longer term, so that it can be assumed that the Russians will be able to increase their production above average in the future as well.
(Www.emfis.com)
