(Drops “not” in headline and 1st paragraph after company corrected its commments to show it will need external financing for the project. In 2nd paragraph adds clarification that Polymetal’s leverage will not increase)
MOSCOW, Oct 20 (Reuters) - Russian gold and silver producer Polymetal will need external financing for its Kyzyl gold project in Kazakhstan, Chief Executive Vitaly Nesis told Reuters in an interview on Tuesday.
Nesis added that the project development would not increase Polymetal’s overall leverage.
The CEO also said he expected global gold production to decline in 2016. (Reporting by Diana Asonova; writing by Polina Devitt; editing by Jason Neely)