Polymetal has started the seasonal activity suspension at the heap leaching factory in Magadan region. The operation of the factory lasted for a month longer this year. Thus, the northernmost heap leaching site of Russia increased gold output in January-September by 189% YoY, to 308 kg. The preparation for the factory conservation will take some…
The government of Kyrgyzstan wants to revise a strategic agreement with the Canadian company Centerra Gold Inc. on cooperation on Kumtor project, the Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziyev announced at a meeting of the Parliament. According to him, the current government is not satisfied with the terms of the agreement signed by the ex-Prime…
In January-October Chukotka Autonomous District yielded 20998 kg of gold, down by 4% YoY.
Ore gold accounted for 18424 kg, down by 6%.
Alluvial gold output totaled 2573 kg, up by 11%.
Silver extraction dropped by 12%, to 96.6 tons. (Ukrainian metal)
Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the third quarter of 2018. In the first nine months KGC produced 306,467 ounces or 9,532.2 kg of gold and contributed more than 5.66 billion soms in taxes and mandatory payments. Kumtor produced 122,445 ounces, or 3.81 tons of…
Receipt of applications from potential investors for participation in a tender for creation of a joint venture on the basis of Makmalzoloto combine branch has begun, press service of Kyrgyzaltyn reported. Applications for participation in the competition are reportedly accepted within 30 calendar days (November – December) in the central office of Kyrgyzaltyn OJSC. The…
In 2017 Russia saw the largest output of gold. “This was the year of gold output record. We have also almost reached the record, set in the Soviet Union. And we have a chance this year to produce more gold than the Soviet Union”, Kraszvetmet CEO Mikhail Dyagilev Last year Kraszvetmet produced 220 tons of…
In Q3 Kinross Gold produced 586.2 thousand ounces of gold equivalent, down by 10.5% YoY. In 9 months the output decreased by 8.8% YoY, to 1.842 million ounces. The Kupol deposits in Chukotka yielded 366.4 thousand ounces, down by 15.8% YoY due to the extraction of ore with lesser gold content. The company has also…
The Vostoc-1 miners team has won the right to develop two sites with alluvial gold in Khabarovsk region. The enterprise, extracting gold in Amur region, has participated in two auctions. The final payment for the alluvial deposits in the Satma Brook valley was 407 thousand rubles with the initial price of 370 thousand rubles. The…
Russian gold producer Polymetal International has finished a feasibility study of the Nezhdaninskoye gold field under the JORC code, and expects commercial gold output from concentrate produced at the field to reach 155,000 ounces per year in the first 15 years of the field’s operation, the company said in a statement on November 12. Mineral…
The gold output at the Verninskoye deposits, developed by Polyus Verninskoye, in Irkutsk region in Q3 grew by 12% QoQ, to 1.856 tons. Ore mining increased by 2%, to 755 thousand tons, while gold contents remained unchanged at 2.6 g per ton. Gold output also grew by 2% YoY. In January-September gold extraction at the…
In January-September Nordgold produced 675.9 thousand ounces of gold, down by 6% YoY. Gold sales earned the company $857.9 million, down by 5%. EBITDA dropped by 9%, to $345.5 million. Net profit decreased by 4%, to $109.2 million. The company has cut its 2018 output forecast from 950-1000 thousand ounces to 900-950 thousand ounces of…
In January-September Polyus received $2141 million of revenue, up by 8% YoY. Corrected net profit grew by 34%, to $1035 million. Capital expenditures went up by 4%, to $547 million. At the same time investments in the Natalka deposits development dropped by 35%, to $186 million. Investments in the Kuranakh deposits also decreased – by…
Vysochaishiy has won an auction to prospect, develop and mine gold ore at the Svetlovskoye ore field site in Irkutsk region. The R1 resources of the site are estimated at 61 tons, and R2 – 59 tons. In 2017 Vysochaishiy produced 225 thousand ounces of gold, having become the 7th largest gold-processing enterprise in Russia.…
The President of Uzbekistan has approved a feasibility study of the investment project entitled as “”Muruntau” open pit mining (Priority 5) Stage 1″. The project will ensure the replenishment of the retiring reserves of gold ore deposits within the boundaries of Priority 4 of the Muruntau open-pit mine and the loading of the production facilities…
Faroz has received a license to prospect and develop gold-ore and antimony deposits in Sogdiy region. The license for the Ukobkhon gold deposits and Pakhndar antimony deposits is valid until 2022. The company has been prospecting and developing Tajikistan subsoil for a number of years now. In particular, it has received the right to use…
In January-October Irkutsk region extracted 21635 kg of gold, up by 9.2% YoY. This year 30 enterprises are extracting gold in the region. Ore gold accounted for 11291 kg, and alluvial gold – for 10344 kg. Alluvial gold output remained unchanged YoY, while ore gold extraction grew by 19%. This year the region intends to…
Since the start of the washing season, the Baldzha team, developing alluvial gold sites in Zabaikalye region, has obtained 690 kg of the precious metal. According to the regional ministry of environment, the annual quota was set at 300 kg of gold. Thus, the plan has been exceeded 2.3 times. By the end of the…
Mangaseia Mining LLC, developing gold ore deposits in Zabaikalye region, in January-September obtained 19.15 thousand ounces of gold, up by 1.6% YoY. In 3 quarters the Kochkovskoye deposits yielded 4.79 thousand ounces of gold, including 3.67 thousand ounces of ore gold and 1.12 thousand ounces of alluvial gold. Savkinskoye deposits decreased output by 23.8%, to…
The Central Bank of Azerbaijan (CBA) has received for storage 400.2 kilograms (12,865.2 troy ounces) of gold from Switzerland, the Ministry of Finance of Azerbaijan reported. The gold mined at the Gadabay deposit, after being refined in Geneva, was handed to the CBA to be deposited by the State Service for Controlling Precious Metals and…
“As soon as we receive official notification about denial of permission to pledge a license, we will make an administrative complaint to the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan, stating our position on this issue,” said Director of Alliance Altyn LLC Mikhail Shubin. According to him, a collateral is needed all…
The Russian central bank bought about 92 tons of gold in July-September, a quarterly record for the country, which is now selling dollar-denominated assets actively, the World Gold Council said in a report on November 2. Russia’s gold reserves exceeded 2,000 tons for the first time ever and now account for 17% of the global…
In July-September Petropavlovsk Plc, extracting gold at four mines in Amur region, obtained 102 thousand ounces, on par with the corresponding period of 2017. Pioner provided 30.2 thousand ounces of gold, Pokrovsky – 0.7 thousand ounces, Malomyr – 32.6 thousand ounces and Albyn – 38.5 thousand ounces. In January-September gold output dropped by 10% YoY,…
As of today, one seat in the Board of Directors of Canadian company Centerra Gold Inc. is vacant, press service of Kyrgyzaltyn OJSC reported. According to it, changes were made in the company’s board. Powers of a board member, Deputy Chairman of the Board of Kyrgyzaltyn OJSC for Economy, Finance and Investments Bektur Sagynov were…
Chaarat Gold Holdings Limited made a proposal for the all-cash acquisition of the whole of Centerra at a premium of not less than 35% above Centerra’s prevailing share price, statement of Chaarat Gold says. The proposed price amounted to 2 billion Canadian dollars (about $1.52 billion.) As the company said, “the ultimate objective of this…
Centerra Gold Inc. has agreed with the government of the Kyrgyz Republic to further extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the government of the Kyrgyz Republic on September 11, 2017. The First Longstop Date was extended until January 31, 2019, statement of…
Kyrgyzaltyn OJSC commented on speculations about possible sale of Centerra Gold’s shares and Kumtor project to a Chinese company Shadong Gold. Kyrgyzaltyn sent a request to the Canadian investors to clarify the information. They replied that since Centerra Gold was a public company, it could receive various offers from third parties, including Chinese investors, about…