Chukotka has been decreasing gold output lately. The local authorities believe this is because of the thinning of gold deposits. In 2016 the region obtained 29.184 tons of gold, down by 9.17% YoY. “We are settling issues with new projects. We’re constructing electricity lines. We are prepared to work at the Kupol deposits, and at…
The Russian Environment Surveillance Service in Magadan region wants to annul the license to use subsoil resources given to Reserv LLC to operate at the Utinskoye deposits. According to the service the company has not started constructing infrastructure objects, nor has it prepared the mining object to be put into operation. The company director Victor…
In January-August gold-extracting companies of Irkutsk region obtained 14.11 tons of gold, down by 2.3% YoY, including 7.466 tons of ore gold and 6.643 tons of alluvial gold. 3 companies mine for ore gold in the region. Pervenets, a part of Polyus, mined 4.18 tons. Vysochaishiy yielded 2.728 tons, and Druza LLC – 558.7 kg.…
Gold remains the most widely discussed metal due to its prominent role in both the investment and consumer world. Although it is no longer a primary form of currency in developed nations, it continues to have a strong impact on the value of those currencies. Moreover, there is a strong correlation between its value and…
As of August 27, Brindakit LLC, extracting gold in Yakutia, washed 65 kg of gold, with 45 kg obtained from the Brindakit deposits and 20 from the Bam deposits. This year the company intends to obtain 100 kg of gold. Thus the target has been 65% fulfilled. In 2016 Brindakit LLC planned to get 80…
In 2017 Orion Group+ LLC intends to wash 40 kg of alluvial gold, down by 26 kg YoY. “Our company is not large, and this year the output will be smaller, as our license is expiring. But we intend to prolong it”, the company director Anatoly Chesnokov said. The company will not participate in auctions…
Gold production in the Chukotka Autonomous District is to decrease by 3 tons in 2017 due to reserve depletion on some of the deposits, head of the region Roman Kopin reported on August 24. “The amount expected in 2017 is 26 tons,” Kopin said. Chukotka Mining and Geological Company and Severnoye Zoloto, units of Kinross…
The net loss of Russian gold producer Lenzoloto tripled to 1.072 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 24. The pre-tax loss also tripled to 1.091 billion rubles, income from sales fell by 17.5%, to 2.396 billion rubles, including income from gold…