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Russia's Nord Gold reports USD322.5m revenue in Q3  Join our daily free Newsletter

MENAFN - 11/10/2012

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(MENAFN) Russia's No.3 gold miner Nord Gold posted a 27 percent rise in quarterly revenues on higher sales, Reuters reported.

The company, which also has operations in Kazakhstan and West Africa, said the income during the third quarter reached USD322.5 million compared to a year earlier.

The results came on the back of a 29 percent increase in quarterly sales, which was partially offset by a 2 percent fall in realised gold prices to USD1,670 per troy ounce.

Gold equivalent production, a measure of gold and other metals expressed in units of gold, increased by 9 percent year-on-year and 17 percent quarter-on-quarter, totalling 194,000 ounces, the company said.

Nord Gold stuck to its full year 2012 production outlook of 720,000 to 770,000 ounces of gold equivalent.

 






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