18 Jul 2012 11:25

Nordgold ups gold production 6% to 165,300 oz in Q2

MOSCOW. July 18. (Interfax) - Gold producer Nord Gold N.V. (Nordgold) boosted production 6% year-on-year to 165,300 ounces of gold equivalent in the second quarter of 2012, the company said in a statement.

The average price of selling the precious metal came to $1,602 per ounce in Q2, compared to $1,689/ounce in Q1.

Due to the influence of technological complications observed in the first half of this year, Nordgold revised its production guidance for 2012 by 10% to 720,000-770,000 ounces of gold equivalent. Guidance was previously 800,000-850,000.