Russia: Kolyma gold potential up in 2016

In 2016 the Magadan region mining companies increased gold reserves by 12.9 tons, with 0.9 million tons being alluvial gold and 12 tons – ore gold.

Silver reserves increase totaled 37.8 tons.

In 2015 gold and silver reserves in the region increased by 12.3 and by 49.4 tons respectively. (Ukrainian metal)

Tajikistan: China mining company to invest $70 million in Pakrut Gold Project

China Nonferrous Gold Limited, the mineral exploration and mining company currently mining the Pakrut Gold Project in Tajikistan, intends to invest additional $70 million in the development of the deposit. According to the State Committee on Investment and State-owned Property Management of Tajikistan (GosKomInvest), an agreement on development of the Pakrut Gold Project in the…

Russia: gold refiners want zero VAT for metal refining

Russian gold refining companies want value-added tax (VAT) on metal processing abolished and the deadline for abolishing a zero import duty on raw materials that contain precious metals extended to make their operation profitable. Sergei Belov, a deputy CEO for gold refining at Krastsvetmet, said that gold refining plants had import duties on raw materials…

Russia: Chukotka mining down in Q1 2017

In January-March companies in the Chukotka Autonomous District mined 5.588 tons of gold and 32.873 tons of silver. Gold output dropped by 17.8% YoY, or by 1.215 tons, silver – by 10.4%, or by 3.84 tons. The decrease is caused by the targeted drop of output at the gold-silver deposits of Kupol and Dvoynoye, belonging…

Uzbekistan: NMMC starts building new hydrometallurgical plant

Uzbekistan’s Navoi Mining and Metallurgy Complex JSC started construction of the fifth hydrometallurgical plant at the Auminza-Amantai gold ore deposit. The country’s President Shavkat Mirziyoyev attended the plant’s groundbreaking ceremony on March 28. The new plant, worth $396 million, is expected to annually process five million tons of ore. Navoi Mining and Metallurgy Complex is…

Russia: Khabarovsk region has gold for 34 years

Since 2014 investments into the mining industry of the Khabarovsk region totaled 16 billion rubles. Belaya Gora Mining and Processing Works increased ore processing by 10% in 2 years. In 2016 Polymetal put into operation a GOK at the Svetloye deposits. Amur Zoloto LLC has resumed operation at the Yubileinaya gold factory, and the Ayano-Maysk…

Russia: Rusnano top exec Pikhoya to chair GV Gold

German Pikhoya, a member of the management board of Russian nanotechnology company Rusnano and former CEO of gold producer Polyus, may become CEO of gold miner GV Gold. Pikhoya has left Rusnano to “chair a large gold producing company,” Rusnano said without any specifications. Pikhoya said he would be ready to discuss the topic only…

Russia: Druza mines 135 kg of gold in 2017

From the start of the year and as of March 17, the gold-mining company Druza has mined 135 kg of gold at its Nevskoye deposits. “At present we continue mining ore gold at the Nevskoye deposits. Operations at the Bolshoy Dogaldyn have already been started”, the company chief geologist Konstantin Morgun said. In 2017 Druza…