23 Apr 2019 18:47

Polyus could reduce production of antimony in concentrate 28% to 17,000 tonnes in 2019

MOSCOW. April 23 (Interfax) - PJSC Polyus plans to produce 75,000 tonnes of antimony concentrate containing 17,000 tonnes of antimony in 2019, the miner's CFO, Mikhail Stiskin, said on a conference call.

Polyus produced 23,600 tonnes of antimony in concentrate in 2018, so this year's total could rise 28%.

Stiskin said the company would sell more antimony concentrate than it produces as it would also be selling concentrate stockpiled last year.

Polyus produced 1,100 tonnes of antimony concentrate in Q1 2019, 85% less year-on-year. In January-February, Polyus temporarily halted processing of antimony-rich ore at the Mill No. 1 and operated the mill on run-of-mine ore, producing merchant gold containing flotation concentrate.

Polyus launched the antimony project in 2018, obtaining its first concentrate in Q1 and launching shipments to foreign off-takers in May, finding buyers in China and South Korea.