YEREVAN. – The Polymetal Management Company of Russia plans to increase its gold production in Armenia by making use of the Lichkvaz goldmine in the country, Polymetal President Igor Finogenov told Armenian News-NEWS.am.

As per Finogenov, ever since starting its activities in Armenia, the company has increased its gold production by 84 percent; and if we factor in solely pure metal, production has doubled.

He added that a sharp increase in gold production is planned for the coming year.

In his words, the present-day conjuncture in the precious and non-ferrous metal market is convenient for the company.

Igor Finogenov noted, however, that Polymetal does not plan on diverging from its main activity, and that it will stick to ore mining.