Kazakhstan: gold output up in January-August 2018

In January-August Kazakhstan’s production of raw gold and semi-processed gold, or in powder form, increased by 11.6% YoY, to 62,251 kg, the Statistics Committee of the Kazakh Ministry of National Economy reported. In the accounting period, the production of raw silver and semi-processed silver, or in powder form, reached 638,640 kg, down by 11%. (Kazinform/Ukrainian…

Russia: gold mine collapses in Chelyabinsk region

The Tsentralnaya gold mine in Chelyabinsk Region operated by gold producer UGC, also known as Uzhuralzoloto, collapsed on September 19, killing one person, a spokesperson for the Emergency Ministry’s local branch reported.

The mine collapsed at the depth of 820 meters, when two people were working there.

Reasons are currently being investigated. (Prime/Ukrainian metal)

Kyrgyzstan: production at Makmal stopped

Production of gold at Makmal field in Jalal-Abad region has been suspended, the First Deputy Prime Minister of Kyrgyzstan Kubatbek Boronov declared. The press service of Kyrgyzaltyn OJSC confirmed the information. The gold recovery plant has suspended its work since September 1. The mineral resource base of the mine is completely depleted, so further work…

Russia: gold output up in August 2018

Russian gold bar production rose by 0.4% YoY and by 9.5% MoM in August, the Federal State Statistics Service said on September 17.

In January-August gold bar production decreased by 0.4% YoY.

No absolute figures were disclosed. (Prime/Ukrainian metal)

Russia: Chukotka gold and silver output down in January-August 2018

In January-August Chukotka Autonomous District extracted 16.38 tons of gold, down by 5% YoY.

14.52 tons accounted for ore gold, with 1.86 tons provided by alluvial sites.

Silver output decreased by 15%, to 74.98 tons.

In January-August 2017 gold output was 17.18 tons and silver – 87.85 tons. (Ukrainian metal)

Russia: Omega gold output up in 2018

Omega LLC has finished the gold washing season of 2018. The result was 320 kg of alluvial gold, with the target at 304 kg. The output grew by 14% YoY. The company is developing gold deposits in the Republic of Sakha (Yakutia). It has 4 licenses for Lazo, Bilir, Bolshoy Delegenyakh and the Bilir Brook…

Russia: Electrum plus obtains 250 kg of gold

In January-August Electrum plus LLC, a part of Susumanzoloto, developing the Vetrenskoye deposits, extracted 250 kg of gold, having processed 108 thousand tons of ore. The output has slightly decreased compared with January-August 2017 mostly due to the drop of average gold contents in ore. By the end of the year the company intends to…

Russia: Finance Ministry mulls lifting VAT on gold

The Russian Finance Ministry is considering canceling value-added tax (VAT) to help repatriate dozens of billion rubles in a move the market has been waiting for dozens of years, Deputy Minister Alexei Moiseyev declared on September 7. “The issue is only discussed, and an additional stimulus for its solution has appeared. You can already see…

Russia: gold output in January-July 2018 up in Yakutia

In January-July the Republic of Sakha (Yakutia) extracted 12483.9 kg of gold and 57460 kg of silver.

Gold output increased by 12.5% YoY.

This year Yakutia intends to extract 24.5 tons of gold. (Ukrainian metal)

Russia: Mangazeya Mining Ltd gold output down in H1 2018

In January-June Mangazeya Mining Ltd, developing Zabaikalye region deposits, produced 6.972 thousand ounces of gold. Savkinskoye deposits accounted for 6.76 thousand ounces, and the rest (0.21 thousand ounces) for Kochkovskoye deposits. According to the unaudited financial statement, gold output decreased by 17% YoY. The decrease is due to the drop in ore mining – in…

Russia: Seligdar losses up in H1 2018

In January-June Seligdar received 759.9 million rubles of net losses, up from 283.3 million rubles in H1 2017. At the same time the company revenue grew 1.6-fold, to 3.808 billion rubles. Gold sales accounted for 2.9 billion rubles, while tin and tungsten – for 270.8 million rubles. Other services (ore mining) accounted for 552.7 million…

Russia: GV Gold IFRS net profit down in H1 2018

The net profit of Russia’s gold producer GV Gold fell by 9.5% YoY, to $19 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue soared by 70%, to $146 million. Operating profit grew by 52%, to $43 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by…