Russia: Drazhnik wins gold site auction

Following the auction Drazhnik LLC has received the right to develop the alluvial gold site. The Koro-Samyr site was sold to the company for 62.634 million rubles. 2 more companies participated in the auction. Since 2001 the company has been prospecting at the site. Koro-Samyr C1 balance reserves amount to 353.4 kg of gold, while…

Russia: Susumanzoloto net profit down in 2017

In 2017 Susumanzoloto received 1.8 billion rubles of net profit, down by 18% YoY. The company revenue grew by 31%, to 13.39 billion rubles. Gold sales revenue totaled 13.27 billion rubles, also up by 31%. Last year the company acquired three enterprises – Nedra LLC for 71.5 million rubles, Sever LLC for 705 million rubles…

Russia: Amur region gold output down in Q1 2018

In January-March Amur region yielded 4.24 tons of gold, down by 9.3% YoY.

Petropavlovsk mines provided for the main part of the output – 1.4 tons at Pokrovsk, 1.12 tons at Albynsk, and 0.87 tons at Malomyr.

Gold mining in Amur region in 2017 grew by 15.6% YoY, to 25.77 tons. (Ukrainian metal)

Russia: Sinida starts gold-mining season

Sinida-1, a part of Seligdar, has started the ore gold mining season. On April 25, after a winter break and modernization, the gold-extracting factory at the Nerundinskoye deposits (Buryatia) was put into operation. “We expect increase in gold extraction. We plan to reach 74% of extraction as opposed to 45% last year. This will be…

Kyrgyzstan: Centerra Gold calls announcement on acquisition of Kumtor “market speculation”

Centerra Gold Inc. called the news release issued by Chaarat Gold Holdings Limited on acquisition of Kumtor mine “market speculation”. Official comment of the company says. In March Centerra received an unsolicited, non-binding proposal from Chaarat concerning Kumtor mine located in the Kyrgyz Republic. Centerra promptly communicated to Chaarat’s advisers that it had no interest…

Russia: Petropavlovsk gold output down in Q1 2018

In January-March Petropavlovsk Plc decreased gold output by 5% YoY, to 112.556 thousand ounces (3.5 tons). According to the company statement, gold sales dropped by 5%, to 112.244 thousand ounces. The average price grew by 4%, to $1295 per ounce. This year the company intends to obtain 420-460 thousand ounces of gold. Petropavlovsk Plc is…

Russia: gold output in Buryatia up in Q1 2018

In January-March Buryatia obtained 0.86 tons of gold, up by 21.5% YoY, Zapadnaya artel LLC (Zapadnaya Mining) operated at the Kedrovoe deposits, and Buryatzoloto (a part of Nordgold) at the Irokinda and Kholbinsky mines. This year Buryatzoloto intends to invest 607 million rubles in drilling at its mines. Balance reserves of the deposits are estimated…

Kazakhstan: Bakyrchik to yield 10.5 tons of gold from 2019

In 2019 the Bakyrchik Mining Enterprise LLC, a part of Polymetal, intends to reach the full capacity and yield up to 10.5 tons of gold per year at the Bakyrchik deposits.

The factory will be put into operation in 2 months.

Investments in the construction totaled $322 million. (Ukrainian metal)

Russia: gold output down in Q1 2018

In January-March Russia decreased output of raw and semi-refined gold, or gold powder by 1.6% YoY.

According to the Federal Service of State Statistics (Rosstat), in March gold output dropped by 7.1% YoY, but increased by 1.7% MoM. (Ukrainian metal)

Russia: Polyus gold output up in Q1 2018

In January-March Poluys increased gold output by 13% YoY, to 507 thousand ounces. At the same time the output dropped from 580 thousand ounces in October-December 2017 due to the decrease in alluvial manufacture. Ore output reached 8.821 million tons, down by 12% QoQ, but up by 2% YoY. Sales revenue totaled $608 million, down…

Russia: VTB buys 10.7 tons of gold in Yakutia

In 2017 the VTB bank purchased 10.7 tons of gold from extractors in the Republic of Sakha (Yakutia).

Last year the gold miners of the region received 750 million rubles to prepare for the season within the loan program, up by 53% YoY.

VTB is a leader in Russian gold purchases. (Ukrainian metal)

Russia: gold output in Zabaykalye region up in Q1 2018

In Q1 Zabaykalye region yielded 929 kg of gold, up by 17% YoY.

Tungsten concentrate output totaled 215.54 tons.

Zinc and lead concentrate manufacture reached 13822.54 tons and 8091.45 thousand tons respectively.

Coal mining totaled 5655 tons. (Ukrainian metal)