Polymetal sees reserves fall in 2011

Russia-focused mining firm Polymetal saw its proved and probable gold equivalent reserves fall by a tenth during 2011, as a result of reserve depletion.

Russia-focused mining firm Polymetal saw its proved and probable gold equivalent reserves fall by a tenth during 2011, as a result of reserve depletion.

As of January 1st 2012, gold equivalent ore reserves stood at 14.3Moz, down 10% on the 15.9Moz reported on the same date in 2011. The firm assures that the average resources grade remains high at 3.9 g/t of gold equivalent.

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