Russian gold miner Polyus sees lower capex in 2018 and 2019

Russia's top gold producer Polyus expects its capital expenditure (capex) to decline over the next two years from around $800 million in 2017 as ramp up costs for a new gold mine fall away, CEO Pavel Grachev said. Polyus, controlled by the family of Russian tycoon Suleiman Kerimov, started commissioning its Natalka mine in the country's Far East, a project expected to help the firm increase its gold output by a third by 2019, on Tuesday.