PJSC Polyus («Polyus» or the «Company») today releases its 1H 2024 operating results for the period ending 30 June 2024.
KEY HIGHLIGHTS
- Volumes of ore mined amounted to 50,210 thousand tonnes, up 38% on the first half of 2023, driven by higher ore volumes mined at Blagodatnoye, Natalka and Kuranakh.
- Volumes of ore processed increased 5% on a year-on-year basis to 24,815 thousand tonnes, primarily due to higher processing volumes at Kuranakh.
- Recovery rate stood at 83.6%, up 0.9 ppts from the first half of the previous year, primarily driven by an increase in recoveries at Olimpiada and Blagodatnoye.
- Doré gold output stood at 1,481 thousand ounces in the first half of 2024, a 5% increase on the first half of 2023.
- Total gold output increased 3% and amounted to 1,473 thousand ounces compared to 1,436 thousand ounces in the same period of the previous year.
- Flotation concentrate output declined to 60.5 thousand tonnes with volumes of gold contained in flotation concentrate amounting to 140 thousand ounces.
- Polyus increases production guidance for 2024 within the range of 2.75 — 2.85 million ounces.
Enquiries
Investor and Media contact
ir@polyus.com
Forward looking statements
This announcement may contain “forward-looking statements” concerning Polyus and/or Polyus Group. Generally, the words “will”, “may”, “should”, “could”, “would”, “can”, “continue”, “opportunity”, “believes”, “expects”, “intends”, “anticipates”, “estimates” or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus Group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus Group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as of the date of this announcement. Polyus and/or any Polyus Company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.