Russian metals giant Norilsk Nickel expects reserves of the Global Palladium Fund to stand at about 200,000 ounces at the end of 2018, CFO Sergei Malyshev said. “We have sold the bulk of the palladium fund reserves that we had at the beginning of this year. We had the reserves of 550,000 troy ounces at…
Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the second quarter of 2018. In the first six months of 2018 KGC produced 184,023 ounces or 5723.76 kg of gold and contributed more than 3.65 billion soms in taxes and mandatory payments, the Media Relations Department of the…
Volgograd Iron and Steel Works Krasniy Octyabr has paid 424 million rubles of tax debts. All the debts have been cleared in full. The non-payment of taxes to the budget has been revealed during a tax service check. The major part of the debt fell on the profit tax. (Ukrainian metal)
In July because of the 8-days long furnace repair, Kosaya Gora Iron and Steel Works produced 4.5 thousand tons of ferromanganese, down by 33% MoM and by 16% YoY. In late April due to the considerable increase of iron ore price and difficult negotiations with suppliers the works stopped producing pig iron and switched its…
NGK Resource is finishing the construction of the first stage of the mining and processing works at the Polyanka deposits in Khabarovsk region. So far the quarry has been prepared, and the crushing and sorting shop is being assembled. The company intends to get the first gold ingot by October 20 and some 300-350 kg…
In January-July Chukotka Autonomous District yielded 13.49 tons of gold, down by 7% YoY. 12.57 tons accounted for ore gold, with alluvial gold at 930 kg, down by 7% and by 15% respectively. Silver output decreased by 15%, to 64.44 tons. (Ukrainian metal)
Kamensk-Uralsky Iron and Steel Works has received a bankruptcy action for the debt of 753.6 thousand rubles. The claimant is a Moscow company TD Trackt. The Sverdlovsk arbitrary court is entertaining another action against KUMZ for the debt of 782.3 thousand rubles. (Ukrainian metal)
In January-June Priisk Dambuki, extracting alluvial gold in Amur region, received 83 thousand rubles of net profit, down almost 24-fold YoY (1.9 million rubles). The company revenue decreased 4-fold, to 23.5 million rubles. Gross profit fell 2-fold, to 17.9 million rubles. EBITDA increased 1.3-fold, to 339 thousand rubles. As of late June, the company accounts…