The Kazakhstan state gold-mining works Tau-Ken Altyn, a part of the National mining company Tau-Ken Samruk, plans to sell the National bank 15 tons of gold this year. “Last year Tau-Ken Altyn sold 12 tons of gold to the National bank. This year our plan is 15 tons”, Tau-Ken Samruk chairman Mazhit Turmagambetov said. Thus…
Gold production in Russia in 2017 will grow by 2-2.5%, to 304-305 tons, according to the Union of gold-miners of Russia. The union expects the average price to hit $1.27 thousand per 1 gold ounce. “Under the expected cross-rate of the ruble to the dollar at 57-65 rubles per dollar, we believe the ruble price…
In January Russia increase gold ingot output by 5.7% YoY. According to Rosstat, the January results exceed the December 2016 by 42.5%. (Ukrainian metal)
Two drum granulators OB-2.8×10 will be operating on the open site of Aldanzoloto (Yakutia) under –20 degrees C. For the machinery to operate in severe climate conditions Uralmashzavod has used new engineering techniques, in particular cold-resistant steel will be used. “Uralmashzavod has a vast experience of producing drum granulators to process iron ore materials. Machinery…
Russia’s Federal Mineral Resources Agency has granted a license to develop the Sukhoi Log gold deposit to SL Zoloto, a joint venture between miner Polyus and state conglomerate Rostec, Polyus said in a statement. Polyus plans to perform additional geological survey and design a feasibility study with the help of international consultants in the next…
In 2016 the Petropavlovsk Group opened the Elginskoye gold deposits (Amur region). The reserves at the deposits are estimated at 56.2 million tons of ore with 72 tons of gold and 14 tons of silver. “I believe that Elgisnkoye deposits hides much more in terms of resources and reserves. It is much larger than our…
In 2016 Russia exported 22.4 tons of gold, down by 43% YoY, while the output remained on the previous year level. Though there is still no data on January-November 2016 output the Union of gold-miners expects the figure to be on the level of 295-297 tons. Central bank bought the most gold on the local…
Prime Minister Dmitry Medvedev has signed a decree confirming the victory of a joint venture between miner Polyus and state conglomerate Rostec in an auction for Russia’s biggest gold deposit Sukhoi Log with a 9.4 million-ruble bid, according to a document released on the government Web site. Natural Resources and Environment Minister Sergei Donskoi said…
