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Russia's Polymetal Q1 revenue down 11 pct

Reuters - UK Focus

MOSCOW, April 16 (Reuters) - Russian precious metals miner Polymetal said on Thursday its revenues had decreased 11 percent in the first quarter of 2015, year-on-year, to $298 million.

First (Other OTC: FSTC - news) quarter gold equivalent production reached 299,000 troy ounces, down 5 percent mainly due to planned grade declines at Dukat and Omolon as well as a temporary suspension of the float circuit at Varvara, said the London-listed company, part-owned by Russian businessman Alexander Nesis.

It also reiterated its production guidance of 1.35 million ounces for 2015. (Reporting by Vladimir Soldatkin; Editing by Polina Devitt)