In January-September Makmalzoloto paid almost 96 million soms to the budget. The taxes make up for 95% of the Toguz-Torous district budget. Makmalzoloto has also paid 53 million soms to the district budget as taxes and other obligatory payments, The enterprise was created in 1986 on the Makmal gold deposits. It employs slightly more than…
In January-September Russia produced 214.12 tons of gold, down by 1.4% YoY. Silver output totaled 800.32 tons, down by 9.4% YoY.
The Russian government will unlikely hold an auction for the Sukhoi Log gold deposit in the Irkutsk region this year, Natural Resources and Environment Minister Sergei Donskoi reported. “A decision has not been made, and I would like to say officially that the auction will not most likely take place this year”, he said. In…
Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has cut its 2016 gold output forecast to 840,000-880,000 ounces from 880,000-930,000 ounces due to suspension of production at the Aprelkovo mine and difficulties with access to African deposits because of an extraordinarily long rain season, the company said in a statement. But the forecast…
Investors from China and Qatar are considering filing a bid to buy a 25% stake in Russia’s largest gold producer Polyus from Polyus Gold International Ltd (PGIL), which owns 61.37% in the company. The parties have not yet reached any agreement on the matter. The stake is estimated at about $3.3 billion. Earlier PGIL was…
In Q3 Highland Gold Mining Ltd produced 63.09 thousand ounces of gold equivalent, down by 11% YoY. Output decrease is explained by the drop in Belaya Gora production. Mnogovershinnoye and Novoshirokinskoye mines output remained mostly flat. In January-September gold output totaled 191.75 thousand ounces, up by 0.2% YoY. This year the company intends to mine…
Polyus Gold International Ltd (PGIL) of tycoon Said Kerimov is in talks to sell 25% plus one share in the Russian largest gold producer to China’s Fosun Group for $2 billion. A source reported that the negotiations were at an advanced stage, and the deal might take place in late 2016 or in early 2017.…
Kurilgeo, the sole gold miner in Sakhalin region, plans to mine 1.6 tons of gold at its Urup island deposits. “In January-September we mined 1.2 tons of gold and 3.5 tons of silver, receiving 1.18 tons of gold and 3.42 tons of silver. Our plan is to receive 1.6 tons of gold this year”, a…
