April 23, 2020 / 3:44 PM / a month ago

UPDATE 1-Russia's Polyus sees no major impact from coronavirus

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MOSCOW, April 23 (Reuters) - Russia’s largest gold producer Polyus said on Thursday that disruptions to its equipment supply chain caused by the spread of the new coronavirus and associated lockdown measures would not significantly affect capital expenditure for the year.

The company said that the virus has had no impact on operations, with all production assets functioning as normal, albeit with some modest equipment supply chain disruptions.

“I would not say that the disruptions in the supply chain that we are witnessing right now would affect our capital spending for the entire year to a significant extent,” Mikhail Stiskin, the company’s chief financial officer, said.

“I would say that the main risk right now is to the project schedules, which were already fairly tight,” Stiskin added. (Reporting by Polina Ivanova; Editing by Andrey Ostroukh and Elaine Hardcastle)

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