Russia: KAP extracts 50 kg of gold

Since the start of the year Kanchalan-Amguem Area LLC (KAP) has extracted 50.2 kg of gold at the Gorny site in Chukotka. Silver output totaled 225 kg. By the end of Q2 the company intends to have mined 505 kg of gold. The company started operating at the site in January. Its resources are estimated…

Kazakhstan: gold output up in January-April 2018

The gross output of raw and semi-processed gold in the powder form reached 28,848 kg in January-April, up by 8.4% YoY.

The overall output of raw and semi-processed silver in the powder form amounted to 334,194 kg, down by 6.5% YoY, the Statistics Committee of the Kazakh National Economy Ministry reports. (Kazinform/Ukrainian metal)

Russia: Kinross gold output down in Q1 2018

In January-March Kinross Gold produced 653.94 thousand ounces of gold equivalent, down by 3% YoY. In Russia gold output dropped by 16%, to 120.18 thousand ounces. At the Kupol and Dvoynoy mines in Chukotka output dropped because of the scheduled extraction of ore with low gold contents. In 2017 Kinross Russian enterprises produced 17692 kg…

Kyrgyzstan: PM discusses fate of Makmalzoloto mine

The Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev met with the Chairman of the Board of Kyrgyzaltyn Almaz Alimbekov, the press service of the government reported. Mukhammedkaly Abylgaziev noted that the mining industry and, in particular, gold mining were one of the strategic sectors of the domestic economy. It is necessary to ensure maximum openness of…

Russia: VTB servicing 22% of gold-extracting market in Zabaykalye region

In 2017 VTB increased the number of gold-purchasing contracts with the Zabaykalye region enterprises by 32% YoY.

The bank concluded agreements to buy 2.9 tons of gold, or 22% of all gold produced in the region.

Last year Zabaykalye region yielded 13.2 tons of gold, up by 10% YoY. (Ukrainian metal)

Russia: Mangazeya Mining gold output down in 2017

In 2017 Mangazeya Mining Ltd LLC produced 24.3 thousand ounces of gold, down by 11.2% YoY.

The main reason of the drop is the low gold contents in the ore.

Ore mining grew by 2.7%, to 951 thousand tons.

Last year gold sales totaled 24.1 thousand ounces, down by 12.3% YoY. (Ukrainian metal)

Russia: Buryatzoloto to increase investments

Buryatzoloto, the largest gold-mining company in the Republic of Buryatia and a part of Nordgold, intends to increase investments this year to 2.1 billion rubles, or by 23% YoY. This has to do with the replacement of mining equipment at both of its mines valued at 749 million rubles. 109 million rubles will be spent…

Russia: HGM gold output down in Q1 2018

In January-March Highland Gold Mining Limited obtained 59.31 thousand ounces of gold and gold equivalent, down by 9% YoY. This year the company intends to yield 265-275 thousand ounces of gold equivalent. Average gold price in Q1 was $1329 per ounce. Last year gold output at HGM enterprises grew by 4.3% YoY, to 272.3 thousand…

Russia: Yakutia silver and gold output up in Q1 2018

In January-March the Republic of Sakha (Yakutia) mined 2.4 tons of gold, up by 27% YoY.

This year the region intends to obtain 25 tons of gold.

Silver mining in 3 months increased by 88% YoY, to 43.8 tons.

The goal for this year is 80 tons of silver. (Ukrainian metal)