Russia: Russian Platinum results for January-August 2017

The Amur artel obtained 942 kg of platinum, including 276 kg in August.

The Amur Zoloto ore deposits yielded 727.2 kg of gold and 481 kg of silver.

The Buor and Ulakhan alluvial gold sites produced 295 kg of gold.

The total gold output in January-August reached 1028.6 kg. (Ukrainian metal)

Russia: Susumanzoloto obtains 3.9 tons of gold

As of September 10, the Susumanzoloto enterprises obtained 3966.8 kg of gold on the territory of Magadan region. In particular, Electrum plus yielded 357.8 kg of gold. Drazhnik LLC obtained 1278 kg of alluvial gold, Karyer Chelbanya LLC – 292.2 kg, Chay-Urya Gold LLC – 643.8 kg, Astra LLC – 346.3 kg, Gerba LLC –107.1…

Russia: Petropavlovsk net profits up in H1 2017

In January-June Petropavlovsk received 1.4 billion rubles ($24.5 million) of net profits, up 2.7-fold. Revenue increased by 19.7%, to 17.38 billion rubles ($304 million). EBITDA grew by 30% YoY, to 6.52 billion rubles ($114 million), despite the strengthening of the ruble, which increases Russian gold miners’ expenses when converting to dollars. Gold output in H1…

Kyrgyzstan: Centerra and government sign agreement

“The agreements of Centerra and the government of Kyrgyzstan will have a good impact on the investment climate of the republic,” the head of the International Business Council Askar Sydykov said, commenting on the Cabinet’s statements on the agreement reached. “A detailed assessment of the agreements can be given when all of their details will…

Russia: Chukotka to mine 25-30 tons of gold

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…

Russia: Reserv to lose Utinka gold

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…

Russia: Chukotka gold output to fall in 2017

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…

Russia: Lenzoloto IFRS net loss up in H1 2017

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…