Russia: VTB servicing 22% of gold-extracting market in Zabaykalye region

In 2017 VTB increased the number of gold-purchasing contracts with the Zabaykalye region enterprises by 32% YoY.

The bank concluded agreements to buy 2.9 tons of gold, or 22% of all gold produced in the region.

Last year Zabaykalye region yielded 13.2 tons of gold, up by 10% YoY. (Ukrainian metal)

Russia: Mangazeya Mining gold output down in 2017

In 2017 Mangazeya Mining Ltd LLC produced 24.3 thousand ounces of gold, down by 11.2% YoY.

The main reason of the drop is the low gold contents in the ore.

Ore mining grew by 2.7%, to 951 thousand tons.

Last year gold sales totaled 24.1 thousand ounces, down by 12.3% YoY. (Ukrainian metal)

Russia: HGM gold output down in Q1 2018

In January-March Highland Gold Mining Limited obtained 59.31 thousand ounces of gold and gold equivalent, down by 9% YoY. This year the company intends to yield 265-275 thousand ounces of gold equivalent. Average gold price in Q1 was $1329 per ounce. Last year gold output at HGM enterprises grew by 4.3% YoY, to 272.3 thousand…

Russia: Yakutia silver and gold output up in Q1 2018

In January-March the Republic of Sakha (Yakutia) mined 2.4 tons of gold, up by 27% YoY.

This year the region intends to obtain 25 tons of gold.

Silver mining in 3 months increased by 88% YoY, to 43.8 tons.

The goal for this year is 80 tons of silver. (Ukrainian metal)

Russia: Drazhnik wins gold site auction

Following the auction Drazhnik LLC has received the right to develop the alluvial gold site. The Koro-Samyr site was sold to the company for 62.634 million rubles. 2 more companies participated in the auction. Since 2001 the company has been prospecting at the site. Koro-Samyr C1 balance reserves amount to 353.4 kg of gold, while…

Russia: Susumanzoloto net profit down in 2017

In 2017 Susumanzoloto received 1.8 billion rubles of net profit, down by 18% YoY. The company revenue grew by 31%, to 13.39 billion rubles. Gold sales revenue totaled 13.27 billion rubles, also up by 31%. Last year the company acquired three enterprises – Nedra LLC for 71.5 million rubles, Sever LLC for 705 million rubles…

Russia: Amur region gold output down in Q1 2018

In January-March Amur region yielded 4.24 tons of gold, down by 9.3% YoY.

Petropavlovsk mines provided for the main part of the output – 1.4 tons at Pokrovsk, 1.12 tons at Albynsk, and 0.87 tons at Malomyr.

Gold mining in Amur region in 2017 grew by 15.6% YoY, to 25.77 tons. (Ukrainian metal)

Russia: Sinida starts gold-mining season

Sinida-1, a part of Seligdar, has started the ore gold mining season. On April 25, after a winter break and modernization, the gold-extracting factory at the Nerundinskoye deposits (Buryatia) was put into operation. “We expect increase in gold extraction. We plan to reach 74% of extraction as opposed to 45% last year. This will be…

Kyrgyzstan: Centerra Gold calls announcement on acquisition of Kumtor “market speculation”

Centerra Gold Inc. called the news release issued by Chaarat Gold Holdings Limited on acquisition of Kumtor mine “market speculation”. Official comment of the company says. In March Centerra received an unsolicited, non-binding proposal from Chaarat concerning Kumtor mine located in the Kyrgyz Republic. Centerra promptly communicated to Chaarat’s advisers that it had no interest…

Russia: Petropavlovsk gold output down in Q1 2018

In January-March Petropavlovsk Plc decreased gold output by 5% YoY, to 112.556 thousand ounces (3.5 tons). According to the company statement, gold sales dropped by 5%, to 112.244 thousand ounces. The average price grew by 4%, to $1295 per ounce. This year the company intends to obtain 420-460 thousand ounces of gold. Petropavlovsk Plc is…