- Write by:
-
Tuesday, September 8, 2020 - 10:13:16 PM
-
953 Visit
-
Print
Mining News Pro - Russian largest gold producer Polyus said on Monday that its second-quarter net profit rose 63% year-on-year to $684 million due to a 31% increase in gold prices.
Its second-quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were at $860 million, up 42% year-on-year, while revenue rose 29% to $1.2 billion.
Polyus remains on track to produce 2.8 million troy ounces of gold in 2020 with capital expenditures expected at between $700 million and $750 million.
Its board of directors recommended a dividend payment for the first half of 2020 of $435 million, or 30% of Polyus’ EBITDA for the period. The dividend payment, with the record date due October 20, is expected at 240.18 roubles ($3.19) a share.
Polyus was able to maintain uninterrupted operations at all assets during the second quarter, despite the covid-19 outbreak at its Olimpiada mine in Russia which was contained.
Polyus remained free-cash-flow positive with $450 million of levered free cash flow, bringing the first-half figure to $709 million.
Short Link:
https://www.miningnews.ir/En/News/596792
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim ...
Canada has granted Airbus a waiver to allow it to use Russian titanium in its manufacturing after becoming the first ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
No comments have been posted yet ...