Representatives of the Chinese gold mining company, GL Makmal Developing LLC, will not demand from the government of Kyrgyzstan the compensation for the damages so far. According to them, the preliminary amount of damage is $2.3 million. “But we do not put forward demands. We are waiting for the interdepartmental commission to finish its work.…
Last week the price of one ounce of gold in Azerbaijan increased by 24.5395 manats or by 1.1207%. Accordingly, the average price of one ounce of gold stood at 2,198.9245 manats. The price of one ounce of silver increased by 0.3965 manats or by 1.4238%, to 28.03702 manats. The price of one ounce of platinum…
Prime Minister Bakytzhan Sagintayev familiarized with the production process automation at Sokolov-Sarybai Mining Production Association (SSGPO) JSC, a part of Eurasian Resources Group (ERG) during his working trip to Kostanay region. The Premier made the first stop at the Sokolovsky open pit. This is the field where the history of strip mining with the use…
Tula Aluminum Works will invest 2.6 billion rubles in the construction of the aluminum alloys processing works. The company will become a resident of the Uzlovaya special economic zone. “The import-replacing manufacture will create over 200 jobs”, the regional governor Alexei Dyumin declared. According to him, these products are in demand both in Russia and…
In March Russia exported 9.9 thousand tons of corrosion-resistant steel scrap and wastes, up by 49.8% MoM and by 8.7% YoY. According to the customs statistics, revenue totaled $11 million, up by 77.2% MoM and by 20.1% YoY. In January-March Russia exported 21.9 thousand tons of this scrap, down by 2.3% YoY, valued at $23…
GeoProMining Gold, developing the Sotskoye deposits and owning the Ararat Gold-Extracting Factory, as well as Agarak Copper-Molybdenum Works, has stopped operations at the deposits. According to the company statement, the reason was the activities of other people. In particular, on May 17-18 and May 22 a group of people, consisting mainly of local criminal elements,…
Rusal, affected by US sanctions in early April, has suggested the state to start purchasing aluminum into reserves, having returned to the idea it voiced several years ago on the background of weak market situation. “The government is thinking it over”, a source in the government reported. And this is not the only way to…
This year OGK Logistic LLC intends to increase monthly transportation of coal 2-fold, to 240 thousand tons. Since January the company has been transporting coal from Solntsevsky Coal Pit in Sakhalin region on behalf of the Vostochnaya Mining and Ore Company LLC. The increase in transportation has to do with the growth of coal output…