Russia’s Polyus says 2020 capex will be higher than forecast

Sukhoi Log exploration project. Image courtesy of Polyus

Russia’s biggest gold producer, Polyus, said on Tuesday it was significantly increasing its capital expenditure (capex) plans for 2020 compared with earlier forecasts.

“I will not give you a precise number but what I can tell you is that taking into account the spillover of capex from 2019 to 2020… there will be a significant increase in capex of the group versus the previous guidance in 2020,” Chief Financial Officer Mikhail Stiskin said on a call with analysts.

(By Polina Ivanova; Editing by Louise Heavens)

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