Polyus Gold to boost 2010 output with mine launch

MOSCOW Oct 1 (Reuters) - Polyus Gold (PLZL.MM), Russia's largest gold miner, expects to increase production to 1.5 million ounces in 2010 and 1.8 million ounces in 2011, the company's deputy chief executive said on Thursday.

German Pikhoya, Polyus Gold's deputy chief executive for strategy and corporate development, told a conference the increase would be attributable to the launch of mining at the $400 million Blagodatnoye project next year.

"We will start serious growth in volumes with the launch of this project in the summer of 2010," Pikhoya said.

Polyus has forecast gold output of 1.3 million ounces in 2009, up from 1.2 million ounces produced in each of the previous two years. (Reporting by Polina Devitt, writing by Robin Paxton, editing by Maria Kiselyova)