Russia: gold output up in January 2017
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)
Russia: Aldanzoloto to receive drum granulator from Uralmashzavod
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: Polyus and Rostec JV secures license for Sukhoi Log gold field
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…
Russia: Petropavlovsk finds new deposits in Amur region
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…
Russia: 22 tons of gold exported in 2016
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…
Russia: license for largest gold field Sukhoi Log issued
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…
Russia: Kolyma gold mining to exceed 30 tons in 2017
In January Magadan region mined 930.8 kg of gold, up by 223.8 kg YoY, and 60.4 tons of silver, down by 14.5 tons. The decrease in silver output has been planned due to the industrial programs of the main silver-mining companies. The leader of the winter gold mining was the Severo-Evensk city district with 382.8…
Russia: Petropavlovsk to start paying dividends after 2018
U.K.-registered gold producer Petropavlovsk Plc, which operates in Russia, can start paying dividends after 2018, CEO Pavel Maslovsky declared. The company set a condition that dividend payments would start once a debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio is below 2 to 1, in December 2014 during loan refinancing. “Now the…