Russia's Highland Gold confirms full-year output target

MOSCOW Mon Aug 12, 2013 5:11am EDT

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MOSCOW Aug 12 (Reuters) - Russian gold miner Highland Gold is on track to meet its full-year production target, the company said on Monday after posting a rise in first-half output.

The company said it expects gold and gold equivalent production - a measure of gold and other metals expressed in units of gold - to be between 225,000 and 240,000 troy ounces for the full year after first-half output rose 3.7 percent year on year to 105,630 ounces.

The company, partly owned by oligarch Roman Abramovich, said last week that it had felt "no big impact" from gold prices falling by about a quarter this year.

Highland Gold's London-quoted shares were up 6.6 percent at 73 pence by 0904 GMT.