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Polymetal profits soar but flags higher costs, inflation in '21

Net profits at FTSE 100 listed miner Polymetal more than doubled year-on-year in 2020 to just over US$1 billion, driven by a surge in metal prices and production. However, the company is set to be hit by higher costs and inflation in 2021.

 Polymetal profits soar but flags higher costs, inflation in '21  Polymetal profits soar but flags higher costs, inflation in '21  Polymetal profits soar but flags higher costs, inflation in '21  Polymetal profits soar but flags higher costs, inflation in '21  Polymetal profits soar but flags higher costs, inflation in '21

Polymetal's adjusted EBITDA leapt 57% to US$1.6 billion in 2020

Adjusted EBITDA leapt 57% to US$ 1.6 billion year-on-year driven by higher production, lower cash costs and strong gold and silver prices, with realised prices up 27%, on average, last year.