MOSCOW (Reuters) – Russian gold and silver producer Polymetal’s second-quarter revenue fell by 36% year on year to $433 million after Western sanctions against Russia had a material impact on sales and logistics, the miner said on Thursday.
The company’s Russian mines accumulated 130,000 troy ounces of gold equivalent in gold and silver bullion inventory in the quarter, Polymetal said, adding that the gap between sales and production is likely to be closed in the third quarter as it ramps up sales to Asia.
(Reporting by Reuters; Editing by David Goodman)
