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…

Azerbaijan: gold output sharply up in January-May 2017

In January-May Azerbaijan obtained 1741.6 kg of gold, up 2.2-fold YoY.

According to the State Statistics Committee, in May gold output totaled 1369.5 kg, up from 187.2 kg in May 2016.

Last year Azerbaijan mined 1894.1 kg of gold, down by 15% YoY. (Ukrainian metal)

Russia: UGK sells Darasun Mine to Uryumkan

Yuzhuralzoloto Group of Companies (UGK) has started transferring Darasun Mine LLC to the future owner – Uryumkan LLC. The transfer started on June 1. In May there was a strike at the mine: 81 miners refused to get back to the surface protesting against not receiving salary for April. At that time UGK president and…

Russia: Balja washes 67 kg of gold

As of mid-June Balja LLC has washed 67 kg of gold. The washing season started in May. In the first month the company obtained 42 kg of gold. According to the company CEO Valery Gurevich, this year it plans to yield 420 kg of gold. Balja is developing the alluvial gold deposits in the Kyrin…

Russia: Amur region yields 8.4 tons of gold

In January-May Amur region obtained 8407 kg of gold, up by 22.6% YoY, including 7699 kg of ore gold and 708 kg of alluvial gold. The growth has been provided by Petropavlovsk group of companies (Pokrovsky, Pioneer, Malomyr and Albyn), as well as Priisk Solovievsky. In particular, Priisk Solovievsky yielded 782 kg of gold, up…

Russia: Irkutsk region obtains 5.4 tons of gold

In January-May Irkutsk region obtained 5431.42 kg of gold, with 1126.58 kg being alluvial gold, and the rest (4304.84 kg) ore gold.

In January-April the region yielded 3704 kg of gold.

This year the target is 21277 kg of gold, down by 2 tons YoY. (Ukrainian metal)