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Russian miner OAO Polymetal Thursday said it produced 4.9 million troy ounces of silver in the first three months of 2010, up 12% from the same period of 2009.
Gold production was up 54% to 100,000 ounces.
The company said it sold $175 million worth of gold, silver and copper in the first quarter of the year.
It reiterated guidance for gold, silver and copper production this year.
Polymetal has said that it wants to reach annual gold equivalent production of 1.2 million ounces by 2012.
Company Web site: www.polymetal.ru
-By Will Bland, Dow Jones Newswires; +7 495 232 9198; firstname.lastname@example.org