Russia: Gran to increase gold output by 2020

Gran LLC, the gold-extracting company from Magadan region, intends to have increased alluvial gold extraction to 500 kg by 2020. In the 2018 season the company obtained 300 kg of gold. Last year the output was 281.1 kg. This year the company has commissioned a processing complex with the daily capacity of 1.5-2 thousand cubic…

Russia: metal prices down on November 16-22, 2018

On November 16-22 metal prices index in Central region dropped by 0.13% WoW.

Only rounds saw an increase of 0.18%.

Channel prices fell by 0.43%, cold-rolled metal – by 0.27%.

Hot-rolled sheet decreased in price by 0.24%, and pipes – by 0.22%. (Ukrainian metal)

Kyrgyzstan: annual demand for gold at 5 tons

Kyrgyzstan’s annual demand for gold is 5 tons, the head of the Fiscal Policy Department of the Ministry of Economy Kuban Aidaraliev announced. According to him, the National Bank buys 2.5 tons annually, while jewelers import other 2.5 tons. “Having own gold reserves, Kyrgyzstan is forced to import pure gold. Our jewelers have to pay…

Ukraine: InGOK iron ore concentrate output up in January-October 2018

In January-October Ingulets Mining and Processing Works produced 9.104 million tons of iron ore concentrate, up by 7.2% YoY.

In particular, in October the company produced 825.3 thousand tons of iron ore concentrate, up by 0.16% from the target.

The iron content was 66.02% with the plan of 65.92%. (Ukrainian metal)

Kyrgyzstan: operation of Kumtor mine to by extended

Operation of Kumtor mine may be extended. This was announced at a meeting of the Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev with the President and CEO of Centerra Gold Inc. Scott Perry. According to the Information Support Department of the Government’s Executive Office, the parties discussed issues of the company’s work. In particular, at the…

Ukraine: vessel transporting AMK metal released

The Comet ship with 3 thousand tons of Alchevsk Iron and Steel Works metal, arrested in early November, left the Mariupol port without cargo.

All the metal is kept at the port.

The ship is in the Sea of Marmara already. (Ukrainian metal)

Russia: OMZ-Spetsstal gets new CEO

The director of Izhorskiye Zavody Yuri Gordienkov has been appointed CEO of OMZ-Spetsstal LLC.

The decision was taken in order to consolidate the operation of both enterprises to fulfill the contract with Rosatom.

Gordienkov has been working at Izhorskiye Zavody for 30 years. (Ukrainian metal)

Russia: TMK Chermet sells 500 tons of Rusal scrap

In October TMK Chermet won a tender to sell scrap of Rusal Ural.

The scrap and used metal structures were taken from the territory of Rusal Kamensk-Uralsky.

The total weight of scrap was 507 tons. (Ukrainian metal)