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Auriant Mining boosts FY'16 production forecast by 10% after bumper 1st half

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Auriant Mining boosts FY'16 production forecast by 10% after bumper 1st half

Russian-focusedgold group Auriant MiningAB lifted its full-year production forecast by 10% after itsfirst-half gold production increased 64% compared to the same period of 2015 to12,389 ounces, which is much more than initially expected, the Swedish companyconfirmed in a statement July 20.

Thegroup, which controls five gold mines in Russia, including in the Baikal region, saidit now expects to produce 1.1 tonnes of gold this year, up from 1 tonnepreviously.

Itattributed the surprise production lift to better ore grades and an increase inthe amount of gold processed by via the main gravitational plant.