Gold miner Petropavlovsk on Tuesday reported a 166% increase in profit for the half-year ended June 30, as revenue jumped 20% on higher production from its hard-rock mines and an increase in the average realised gold price.
London-listed Petropavlovsk, which operates the Pioneer, Pokrovskiy, Malomir and Albyn mines in Russia, posted profit or $24.5-million in the first half of 2017, compared with $9.2-million in the first half of 2016.
