Nord Gold output rises by 26pc

Russian gold miner Nord Gold yesterday said its revenues rose one per cent in the third quarter to $325m (£203m) year-on-year, as higher gold production offset lower global prices. Nord Gold, controlled by businessman Alexei Mordashov, said its output increased by 26 per cent, but the average gold price fell 21 per cent to $1,325 per ounce over the period. The firm also said it is aiming for the higher end of its full-year production targets.