Russia's Polymetal reports net loss of $288 million in 2022, decides not to pay dividend Polymetal
- Russia's Polymetal, a senior global gold and silver producer, reported today that the company's 2022 gold equivalent production amounted to 1,712 Koz, a y-o-y increase of 2% and in line with the original production guidance of 1.7 Moz.
Group total cash costs for 2022 were US$ 942/GE oz and within the company’s guidance of US$ 900-1,000/GE oz, although representing an increase of 29% y-o-y, which was predominantly due to double-digit domestic inflation and the appreciation of Rouble/USD exchange rate. According to a company press release, revenue for 2022 stood at US$ 2.8 billion, a y-o-y decrease of 3% on the back of lower average gold and silver prices.
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