Russia: gold output up in January-February 2018

In January-February Russia increased the manufacture of raw and semi-raw gold by 2% YoY.

According to the Federal Service of State Statistics, in February output grew by 9.5% YoY and by 40.4% MoM. (Ukrainian metal)

Kazakhstan: ambitious gold project to be launched

Full-scale operations in Kyzyl, a large gold mine in the East Kazakhstan region, will start in 2019. “Using state-of-the-art technologies, the Bakyrchik Ore Mining and Processing Enterprise is developing a gold deposit with a capacity of 2 million tons of ore per annum. The project will reach the ultimate capacity in 2019 “, Deputy Head…

Azerbaijan: gold output up in January-February 2018

In January-February Azerbaijan obtained 1353.4 kg of gold, up 7.5-fold YoY.

According to the State Statistics Committee, in February gold output totaled 608.3 kg.

Last year the country yielded 6390.8 kg of gold, up 3.4-fold YoY.

Gold and silver in Azerbaijan are mined at the Kedabek and Gosha deposits. (Ukrainian metal)

Azerbaijan: gold price continues to rise

Prices for the precious metals in Azerbaijan increased on March 14. The cost of gold increased by 14.88 manats (by 0.7%), to 2257,25 manats per troy ounce, according to the data published by the Central Bank. The cost of gold in Azerbaijan over the past 30 days (February 14 – March 14, 2018) decreased from…

Belarus: gold mining in Sudan considered

Belarus and Sudan are considering gold mining in the African country, Head of the Belarus President Property Management Directorate Viktor Sheiman said.

“We are considering gold mining in Sudan, supplying our machinery, and setting up joint companies, including agricultural ones,” Viktor Sheiman noted. (BelTA/Ukrainian metal)

Russia: Petropavlovsk gold reserves up in 2017

Petropavlovsk Plc, which extract gold from 4 mines, in 2017 increased JORC gold reserves by 8% YoY, or by 670 thousand ounces. The company resources grew by 6%, or by 1.17 million ounces. According to the company statement, the resources and reserves grew due to the successful prospecting at the Pioner and Albyn deposits. As…

Russia: Zarya to start gold extracting in May 2018

Zarya, extracting alluvial gold in Khabarovsk territory, has started preparations for the washing season. According to the company CEO Victor Shudrenko, the season begins in May. The employees have already started arriving at Ulch and Nikolayev sites. This year the company has purchased two new sites: the Bakan Bolshoy deposits and the Detysh deep alluvial…

Russia: gold output up in 2017

Russia’s gold production rose about by 6.8% YoY, to 317.660 tons in 2017, Sergei Kashuba, chairman of the Union of Gold Producers of Russia, said on March 6. Gold producers raised their output by 6.4%, to 254.216 tons in 2017, while by-product gold production gained 11.6%, to 16.459 tons, gold scrap production went up by…

Russia: Susumanzoloto profits down in 2017

In 2017 Susumanzoloto received 1.816 billion rubles of net profits, down by 28.4% YoY. Revenue grew by 29.9%, to 12.925 billion rubles. Sales profit dropped by 15%, to 2.474 billion rubles. Last year the company sold 5415 kg of gold, up by 47.1% YoY. As of December 2017 Susumanzoloto had 49 licenses. Its estimated C1…