Petropavlovsk Plc, which extract gold from 4 mines, in 2017 increased JORC gold reserves by 8% YoY, or by 670 thousand ounces. The company resources grew by 6%, or by 1.17 million ounces. According to the company statement, the resources and reserves grew due to the successful prospecting at the Pioner and Albyn deposits. As…
In 2018 Susumanzoloto intends to get 6 tons of gold against the target of 5.3 tons. The increase YoY could be 16.8%. The company enterprises will be operating at the gold deposits in Magadan region and the Republic of Sakha (Yakutia). Electrum plus LLC is expected to provide 490 kg of ore gold. The rest…
Zarya, extracting alluvial gold in Khabarovsk territory, has started preparations for the washing season. According to the company CEO Victor Shudrenko, the season begins in May. The employees have already started arriving at Ulch and Nikolayev sites. This year the company has purchased two new sites: the Bakan Bolshoy deposits and the Detysh deep alluvial…
The Russian central bank has held several gold deals on the Moscow Exchange since the start of the year, Larisa Selyutina, director of the securities and commodities department of the authority, said at a conference on March 6. “The Central Bank of Russia puts bids daily on the order book, but there were only a…
Russia’s gold production rose about by 6.8% YoY, to 317.660 tons in 2017, Sergei Kashuba, chairman of the Union of Gold Producers of Russia, said on March 6. Gold producers raised their output by 6.4%, to 254.216 tons in 2017, while by-product gold production gained 11.6%, to 16.459 tons, gold scrap production went up by…
Dalnevostochnie Resursy (Far East Resources), extracting gold on the territory of Ulchinsk and Nikolayevsk districts of Khabarovsk territory, has begun preparations to the washing season. The season will start on April 25 – May 9, depending on the weather conditions. In 2016 the company obtained 1140 kg of gold, and last year – 1100 kg.…
In 2017 Susumanzoloto received 1.816 billion rubles of net profits, down by 28.4% YoY. Revenue grew by 29.9%, to 12.925 billion rubles. Sales profit dropped by 15%, to 2.474 billion rubles. Last year the company sold 5415 kg of gold, up by 47.1% YoY. As of December 2017 Susumanzoloto had 49 licenses. Its estimated C1…
The board of directors of Asian-Pacific Bank has approved the sale of a 9.11% stake in U.K.-registered Petropavlovsk Plc, which mines gold in Russia. In December 2017 companies controlled by tycoon Viktor Vekselberg sold a combined stake of 22.3% in Petropavlovsk and 2020 bonds that might be converted into a 6.83% stake in the company…