Mining Journal: Were you surprised by the cost increase for the business?
Maxim Nazimok: I wouldn’t say we were surprised.
Russia-focused gold producer Polymetal International released its full-year results last week, which were hurt by higher capital spend at Mayskoye and an appreciating rouble. In the longer-term, however, a project pipeline at capacity and a well-managed balance sheet means the company is looking good compared to the falling production and reserve profiles of its peers in the West. We caught up with Polymetal chief financial officer Maxim Nazimok.