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Petropavlosk boosts production, profits

Costs have crept up at Russia-focused gold mining company Petropavlovsk (LN:POG) in the first half of the year, as it continues to spend big to bring on new underground mines.

Petropavlosk boosts production, profits Petropavlosk boosts production, profits Petropavlosk boosts production, profits Petropavlosk boosts production, profits Petropavlosk boosts production, profits

Entering the growth phase: Petropavlovsk is looking to become a 500,000 ounces per annum producer in the medium term

Production for the first half of the year rose 19%, year-on-year, to 232,400 ounces at an all-in sustaining cost of US$965 per ounce, up from $762/oz in the previous year.