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Russia's Petropavlovsk says Q3 gold output down 24 pct y/y

Reuters - UK Focus

MOSCOW, Oct (HKSE: 3366-OL.HK - news) 20 (Reuters) - Russia-focused gold miner Petropavlovsk (LSE: POG.L - news) said on Tuesday its third-quarter gold production fell 24 percent, year-on-year, to 114,500 troy ounces as it focused on mining with the highest possible profit margin.

Petropavlovsk is still on track to cut its net debt to $600 million by the end of 2015 from $675 million at the end of September, it said in a statement. (Reporting by Polina Devitt; editing by Maria Kiselyova)