Russia's Nord Gold expects rise in gold production for 2013

MOSCOW Tue Jan 22, 2013 2:17am EST

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MOSCOW Jan 22 (Reuters) - Russian gold miner Nord Gold said gold production fell 5 percent in 2012, mainly due to mechanical bottlenecks which impacted production, but expects a rise for the coming year.

Gold production for 2012 was 716,900 ounces. For 2013 it expects production to be in the range of 770,000 to 850,000 ounces. Fourth quarter gold production fell one percent on the same period the previous year.

Revenue for the year rose one percent to $1,2 billion.

Nord Gold is Russia's third-largest gold producer, and also has operations in Kazakhstan and West Africa. It is controlled by businessman Alexei Mordashov.

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