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.…