PJSC Polyus ("Polyus" or the "Company") today releases its 1H 2022 operating results for the period ending 30 June 2022.
- Total gold output amounted to 1,068 thousand ounces, compared to 1,263 thousand ounces in the first half of 2021. This decline was driven by lower production of refined gold across all deposits due to lower average grades in ore processed. Doré gold volumes totalled 1,186 thousand ounces, down 9% year-on-year. The difference in total gold output and doré gold production reflects the accumulation of unrefined gold to be further processed in 2022.
- Volumes of ore mined decreased 16% year-on-year to 28,149 thousand tonnes, reflecting lower ore volumes mined across all operating assets except Kuranakh.
- Volumes of ore processed amounted to 23,777 thousand tonnes, up 2% on the same period of the previous year driven by higher processing volumes at Olimpiada, Verninskoye and Natalka.
- Recovery rate decreased to 81.8%, compared to 82.1% in the first half of 2021.
Investor and Media contact
Victor Drozdov, Director Communications & Investor Relations (CIR) Department
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.