Polyus produced 2.43 million ounces during the year, 13% higher year-on-year and above the 2.37-2.42Moz guidance.

Output of gold doré also climbed 13% on the year to 2.45Moz, while the volume of ore processed jumped 33% to 38.02 million tonnes as the Natalka mill ramped up, existing operations were expanded and heap leaching operations at Kuranakh started.

Polyus sold an estimated US$2.9 billion worth of gold during the year, 7% higher than in 2017, at an estimated weighted average gold price of $1,265 per ounce, relatively steady year-on-year.

CEO Pavel Grachev said Natalka would be a significant source of future production growth, with guidance for 2019 set at 2.9Moz.

He said the company's focus remained on organic growth opportunities at existing operations, as well as potential brownfield additions to its portfolio.

Polyus also updated the mineral resource estimate for its Sukhoi Log gold greenfield project, where it completed a scoping study and verification drilling, and entered the pre-feasibility stage during 2018.

It said the resource of 962Mt with an average grade of 2.1g/t gold and containing 63Moz of gold was 9% higher than the January 2017 mineral resource estimate.

The 29Moz of inferred mineral resources was also upgraded to a maiden indicated mineral resource.

"We believe that Sukhoi Log will be the cornerstone of Polyus' next-generation growth opportunities," Grachev said.

He said Polyus planned to continue drilling until the end of 2019 to "further enhance definition of the ore body structure, and expect to deliver a maiden ore reserve estimate for Sukhoi Log in 2020".