Russian largest gold producer Polyus said on Monday that its second-quarter net profit rose 63% year-on-year to $684-million due to a 31% increase in gold prices.
Its second-quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were at $860-million, up 42% year-on-year, while revenue rose 29% to $1.2-billion.
Polyus remains on track to produce 2.8-million troy ounces of gold in 2020 with capital expenditures expected at between $700-million and $750-million.