Russia’s Polymetal says its ore, gold reserves rose in 2018

Russian gold and silver producer Polymetal increased its ore reserves by 15 percent last year to 24 million ounces of gold equivalent, the company said on Monday.

Gold reserves rose 21 percent to 22.3 million ounces, while silver reserves fell 15 percent to 135 million ounces last year, Polymetal said.

Mineral resources rose 44 percent to 26.3 million ounces of gold equivalent, the company said.

(By Andrey Kuzmin and Tom Balmforth; Editing by Shreejay Sinha)