Nordgold dramatically increases gold mining and decides to pay dividends

International mining company Nord Gold NV has reported about increase in its gold production in the first quarter of 2015 by 26% to 266.7 thousand ounces, as well as about increase in EBITDA by 83% to $189.7 million.

"I am pleased to report that in the last quarter, the company again achieved excellent financial results. In parallel with the increase in the production costs at all mines were reduced. The cost reduction more than offset the effect of reducing the price of gold during the period and allowed the company to obtain the free cash flow in excess of $120 million, as well as to review the annual forecast of AISC indicator to decrease it,"- said general director of Nordgold Nikolai Zelensky.