Highland Gold net profit tumbles

Russian gold miner Highland Gold said first half net profit fell to $45m from $70.3m a year earlier while pre-tax profit fell by a third due to the higher cost of sales.

Russian gold miner Highland Gold said first half net profit fell to $45m from $70.3m a year earlier while pre-tax profit fell by a third due to the higher cost of sales.

The group said that it remains on track to produce between 200,000 ounces and 215,000 ounces of gold and gold equivalents in 2012.

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