Demand for used mining equipment rose in Russia as gold output at Russian precious metals miner Polymetal rose to about 285,000oz last year, up to 17% on 2007, and silver output increased to 17.2 million ounces, up to 8%, the firm said. Revenues rose by 62% last year to $500m, the firm said in its Website. The firm will continue to leverage the existing asset base including their existing soon-to-be-purchased used mining equipment as well as aggressively move development projects towards faster production in 2009.
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