Russian gold and silver producer Polymetal expects silver bullion to account for less than 5% of 2022 sales because of a lack of reliable export channels, it said on Thursday.
The company’s sales of gold bullion and concentrates from Kazakhstan continue as usual and sales of gold bullion and concentrates from Russia to Asian markets have returned to regular schedules, it added.
Polymetal said it is on track to produce 1.7 million troy ounces of gold equivalent in 2022.
It does not sell any of its products to the Russian central bank, directly or indirectly, it added.
(With files from Reuters)