Kyrgyzstan: country share in Kumtor project down

The share of Kyrgyzstan in Kumtor project decreased by 6%. The Canadian company Centerra Gold Inc. in 2016 bought Thompson Creek, which also specialized in gold and metal mining. The financial operation is estimated at a little more than $1 billion. To ensure a successful deal, additional shares were issued. A total of 26,599,500 new…

Russia: Tarynsky GOK to start operating in autumn

The first stage of Tarynsky Mining and Processing Works with the project capacity of 700 thousand tons will be put into operation this autumn.

The GOK is expected to produce 2.7 tons (87 thousand ounces) of gold per year.

The reserves of the GOK are estimated at 35 tons of gold. (Ukrainian metal)

Russia: EZOTsM gets 1 kg of African gold

The Yekaterinburg Customs has for the first time registered 1 kg of gold delivered from Guinea at the order of Yekaterinburg Non-Ferrous Metals Processing Works. The ingot is valued at $39 thousand. Not all African countries mining for gold have facilities to process it. This is a trial batch. At present the ingot is being…

Russia: Khabarovsk region yields 9 tons of gold in H1 2017

In January-June Khabarovsk region enterprises obtained 9170.4 kg of gold, up by 14.1% YoY.

Alluvial gold companies showed the increase in output of 8.6% YoY, to 1517 kg, while miners yielded 7653.4 kg, up by 15.3%.

Silver output totaled 27509.5 kg against 19260.4 kg in H1 2016. (Ukrainian metal)

Russia: Chukotka gold output down in H1 2017

Gold production on Russia’s Chukotka peninsula decreased by 14.34% YoY, to 11.795 tons, in January-June, a spokesperson for the regional industry policy, construction, and housing and utilities department reported on July 11. Silver production in the area fell by 21.71%, to 64.709 tons. Chukotka Mining and Geological Company, a unit of Kinross Gold, produced 4.775…

Russia: Niman gets 98 kg of gold

So far this year the Niman artel LLC has obtained 98 kg of gold, up by 6 kg YoY.

Niman washes for alluvial gold in the Verkhebureinsky district of Khabarovsk krai. The industrial season started in early May. In the first month of operation the company washed 20 kg of gold. (Ukrainian metal)

Russia: Kedrovskiy gold auction fails

The auction to prospect, develop and mine gold at Kedrovskiy site in Khakasia failed, as there was only one offer – from ZapSibNK LLC.

The starting price of the site with the reserves of 77 tons was 60.946. The license would have been granted for 25 years. (Ukrainian metal)

Kyrgyzstan: gold illegally mined on Kapchygay-1 site

Gold was illegally mined on Kapchygay-1 site, the State Committee of Industry, Energy and Subsoil Use of the Kyrgyz Republic reported. The committee earlier announced an auction for the sale of placer gold deposit, namely, Kapchygay-1 and Kapchygay-2 section, located in Aksy district of Jalal-Abad region. However, it was canceled because of illegal mining of…

Russia: first meters bored at Kumroch

“Zoloto Kamchatki” has bored the first meters at the Kumroch deposits, one of the most promising sites in Kamchatka. This year the company intends to bore 80 thousand meters of rock and produce 20 tons of gold. The total volume of investments in the project amounts to 1 billion rubles. At the Kumroch deposits an…

Kyrgyzstan not to suffer losses from Altyn-Ken

Kyrgyzstan should not bear losses from gold processing enterprise Altyn-Ken, the member of the Association of Mining Industry Duishenbek Kamchybekov said at a round table. According to him, the share of Kyrgyzstan from gold processing at this enterprise is 40%, and 60% is the share of the Chinese company. The enterprise was built to process…

Russia: Vysochaishiy distributes 2016 profits

The management of the Vysochaishiy public joint-stock company has decided to distribute 6.378 billion rubles of net profit for 2016. 2.308 billion rubles will be sent to the development fund, of them 1.63 billion – for construction, 108.333 million rubles – for prospecting, and 1.793 billion – to cover losses of the previous years. 46.8…

Russia: HERGU gets 114 kg of gold

The gold-mining company HERGU has so far obtained 114 kg of alluvial gold.

This year the company intends to yield 700 kg, down by 40 kg YoY.

In 2015 HERGU obtained 675 kg of gold. (Ukrainian metal)

Kyrgyzstan: workers of Ak-Tyuz processing plant on strike

Employees of Georezerv TK CJSC are on an indefinite strike, Chairman of the Central Committee of the Mining and Metallurgical Trade Union of Kyrgyzstan Eldar Tadzhibaev reported. According to him, the workers completely stopped the work of Ak-Tyuz processing plant in connection with the non-fulfillment of the requirements for payment of wages, provision with overalls,…

Armenia: Lydian Armenia exempt from customs duties

The Armenian government has freed Lydian Armenia, operating at Amulsar deposits, from paying customs duties on the import of equipment and raw materials. According to the minister of economical development and investments Suren Karayan, the company has already invested some 44 billion drams ($90 million). 180 billion drams more will be invested. The cost of…