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Polymetal hit by stronger rouble

The appreciation of the Russian rouble has hit precious metals miner Polymetal’s (LN:POLY) results for the first half of 2017, with costs up and net earnings down for the period.

Polymetal hit by stronger rouble Polymetal hit by stronger rouble Polymetal hit by stronger rouble Polymetal hit by stronger rouble Polymetal hit by stronger rouble

Polymetal expects to produce more gold in the second half of the year

The miner produced 558,000 ounces of gold equivalent during the first six months of 2016, up 7% year-on-year, although the all-in sustaining cost was up 20% at US$906 per ounce of gold equivalent.