Precious metal prices decreased in Azerbaijan on December 14. The price of gold dropped by 5.2955 manats, to 2,110.7115 manats per ounce on December 14 compared to the price on December 13. The price of silver fell by 0.0999 manats, to 24.969 manats per ounce. The price of palladium went down by 7.7775 manats, to…
Russian VTB Bank agreed to issue a loan of $180 million to Alliance Altyn for the construction of a gold recovery plant and a tailing dump at Jerooy, Director General of the mining company, Mikhail Shubin, declared. According to him, the issue of license pledge for the loan has not yet been resolved. The State…
Russian Platinum won the competition for Jerooy thanks to the best technical and economic proposals, as well as the offer for a license of $100 million (which it paid in June 2015) and the obligation to remove from Kyrgyzstan the court claims for $580 million (the problem was resolved in August of the same year).…
Azerbaijan has exported various types of aluminum sections to Denmark, Sumgait Technology Park reported. In November, Sumgait Technology Park signed a contract with a Danish company to sell 100 tons of aluminum sections. The company has completed the preparation of the order and sent the ready products to the client. The aluminum plant, established at…
The board of directors of Russia’s gold producer GV Gold has approved payment of 1.9 billion rubles in dividends for January-September, the company said in a statement on December 14. The shareholders will consider the recommendation at an extraordinary general meeting scheduled for December 28. In April, GV Gold approved a new dividend policy, under…
Zinc and non-ferrous metals producer Electrozinc, a part of Ural Mining and Metallurgical Company (UMMC), plans to terminate its operations, a spokesperson for the plant reported on December 14. “We have decided to stop production fully, and equipment and the industrial site will undergo conservation procedures. We are to unload the remaining raw materials and…
The State Expertise Service of Russia has approved the design documentation on the project “Mining and Processing Works Udokan. The first stage of construction with the capacity of 12 million tons of ore per year”. Thus, the project has received all the necessary documents to start construction. The commissioning is scheduled for 2021, while the…
The inspection of the Russian Accreditation Service has confirmed the expertise of the technical and chemical control at the Korshunovsky Mining and Processing Works. Each year the laboratory of the enterprise analyzes over 130 thousand samples. It controls the quality of the concentrate, the technological process of enrichment, as well as wastewater and pollution. “We…
