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Russia's Seligdar increases gold and tin production in 2021

Vladimir Basov

Kitco News

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(Kitco News) - Russian gold and tin miner Seligdar (MOEX: SELG) today announced production results for the full-year 2021.

The company's gold production in 2021 amounted to 232 koz, a 3% increase compared to 2020, whereas production of tin in concentrate increased by 15% to 2,908 tonnes.

In addition, the company produced 47 tonnes of tungsten (down 35%) and 366 tonnes of copper (up 55%).

The company's revenue from the sale of metals increased by 2% year-on-year and reached 35.1 billion rubles (~$458 million).

President Konstantin Beirit stated, "Having increased gold and tin production in 2021, Seligdar showed one more time a sustained growth. In 2022, we will revise our sustainable development strategy in order to significantly increase targets for gold and tin production."

Seligdar is one of the largest gold mining companies in Russia and producer of tin, tungsten and copper.

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By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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