Russia's Polymetal fourth-quarter revenue up 11 percent year-on-year after record output

MOSCOW (Reuters) - Russian gold and silver producer Polymetal said on Thursday its fourth quarter revenue rose by 11 percent year-on-year to $652 million due to an increase in production to a record high.

The company, part-owned by businessman Alexander Nesis, said its production of gold equivalent, which is a mix of gold and other metals, rose by 23 percent to a record 497,000 troy ounces due to a full ramp-up at its Kyzyl mine in Kazakhstan.

(Reporting by Polina Devitt; Editing by Mark Potter)