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The Russian miner produced 671 000 oz of gold in the second quarter, compared with 592 000 oz in the first quarter. Total gold output for the first six months of the year was 1.26-million ounces, down 2% on the first half of 2020.

Gold sales increased by 12% year-on-year to $2.25-billion, with an estimated weighted-average gold selling price of $1 803/oz. Second-quarter gold sales amounted to $1.2-billion – up 21% on the previous quarter with an average estimated weighted-average gold selling price of $1 815/oz.

"Our strong operational performance over the quarter reflects both improvements on recovery side and ongoing throughput capacity expansion, as well as the start of the washing season at Alluvials and the recommencement of heap leaching operations at Kuranakh,” said CEO Pavel Grachev.

“Our throughput capacity expansion projects yielded solid results, with total volumes of ore processed increased to above 23-million tonnes in the first half of 2021, a 4% increase year-on-year.”

Grachev noted that Polyus continued to examine new brownfield opportunities within its existing operations.

The company recently announced new growth projects at Olimpiada and Kuranakh, in addition to ongoing projects at Blagodatnoye and Natalka.