Russia's Polymetal sees higher silver, gold output

DENVER, Sept 9 (Reuters) - The chief executive of Russia's largest silver producer Polymetal PMTL.MM PMTLq.L said on Tuesday he expects the company's silver output will rise to 17.7 million ounces this year, up from 15.9 million ounces in 2007.

CEO Vitaly Nesis told the Denver Gold Forum in a presentation that he expects Polymetal to produce 20 million ounces of silver in 2009, 21.5 million ounces in 2010, and up to 26 million ounces by 2011. He cited rising output at its Dukat mine.

Nesis also forecast gold output of 250,000 ounces this year, 300,000 ounces in 2009, and 335,000 ounces in 2010, increasing to 460,000 ounces by 2011.

Polymetal was Russia's third-largest gold miner last year, producing 4.6 percent of the country's total output.