Russia: Petropavlovsk profits in 2016

In 2016 Petropavlovsk received $31.7 million of net profits as opposed to $297.5 million of losses in 2015. According to the company statement, its revenue reached $540.7 million, down by 10% YoY. EBITDA increased by 16%, to $200 million. Gold manufacture prime cost dropped by 12%, to $660 per ounce. As of the end of…

Kazakhstan: gold output up in Q1 2017

In January-March Kazakhstan produced 19863 kg of raw gold, up by 27.6% YoY.

According to the Statistics Committee of the Ministry of national economy, raw silver output dropped by 5.4% YoY, to 265399 kg. (Ukrainian metal)

Russia: ore gold found in Altai region

Gorno-Altaiskaya Expeditsiya has found traces of gold ore at the Belyashi site in Altai region.

In addition to main mineral resources (tantalum, lithium, niobium, and tungsten), the site could also yield gold, copper and lead.

The prospecting work was carried out in 2016. (Ukrainian metal)

Kyrgyzstan: only one company exporting gold ore

Only one company – Vertex Gold – exports gold ore from Kyrgyzstan, Head of the State Committee for Industry, Energy and Subsoil Use Duishenbek Zilaliyev stated at the meeting of the Committee on Constitutional Legislation, State Structure, Judicial, Legal Issues and Regulations of the Parliament of Kyrgyzstan. According to him, the export of ore issue…

Russia: Amur region output down in Q1 2017

In January-March the Amur region yielded 4677 kg of gold. The state enterprise Petropavlovsk mined the most gold: 1689 kg by Pokrovsky mine, 14171 kg by Albynsky mine and 512 kg by Malomorsky mine. Berezitoviy mine of Nordgold yielded 751 kg. Gold-mining in Amur region continues falling due to the low metal contents in ore.…

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)

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…

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…