Polymetal revenues jump 45%
Polymetal International, the newly-listed precious metals producer, saw sales revenue jump 45% in the year ended December 31st helped by 57% growth in the final three months of the year.
Polymetal International, the newly-listed precious metals producer, saw sales revenue jump 45% in the year ended December 31st helped by 57% growth in the final three months of the year.
However, Polymetal, the fourth-largest gold producer in Russia, admitted that annual gold production was flat at 443Koz in 2011, despite a 14% increase in the fourth quarter. This is expected to increase to 590-640Koz in 2012.
Meanwhile, silver and copper production rose by 15% and 73%, respectively, and these are both also expected to improve this year.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are proud to complete 2011 with a strong finish in the fourth quarter," said Vitaly Nesis, Chief Executive Office of Polymetal.
More to follow...
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
How to achieve a secure retirement, as more retirees admit to struggling with debt
Twenty-six percent of retirees now have unsecured debt – a sharp rise compared to two years ago – with many underestimating how much a typical retirement costs
-
The key October self-assessment tax return deadlines to remember so you can avoid a shock bill
There are two important dates for self-assessment taxpayers to remember in October