Russia: Omega gold output up in 2018

Omega LLC has finished the gold washing season of 2018. The result was 320 kg of alluvial gold, with the target at 304 kg. The output grew by 14% YoY. The company is developing gold deposits in the Republic of Sakha (Yakutia). It has 4 licenses for Lazo, Bilir, Bolshoy Delegenyakh and the Bilir Brook…

Russia: Electrum plus obtains 250 kg of gold

In January-August Electrum plus LLC, a part of Susumanzoloto, developing the Vetrenskoye deposits, extracted 250 kg of gold, having processed 108 thousand tons of ore. The output has slightly decreased compared with January-August 2017 mostly due to the drop of average gold contents in ore. By the end of the year the company intends to…

Russia: Finance Ministry mulls lifting VAT on gold

The Russian Finance Ministry is considering canceling value-added tax (VAT) to help repatriate dozens of billion rubles in a move the market has been waiting for dozens of years, Deputy Minister Alexei Moiseyev declared on September 7. “The issue is only discussed, and an additional stimulus for its solution has appeared. You can already see…

Russia: gold output in January-July 2018 up in Yakutia

In January-July the Republic of Sakha (Yakutia) extracted 12483.9 kg of gold and 57460 kg of silver.

Gold output increased by 12.5% YoY.

This year Yakutia intends to extract 24.5 tons of gold. (Ukrainian metal)

Russia: Mangazeya Mining Ltd gold output down in H1 2018

In January-June Mangazeya Mining Ltd, developing Zabaikalye region deposits, produced 6.972 thousand ounces of gold. Savkinskoye deposits accounted for 6.76 thousand ounces, and the rest (0.21 thousand ounces) for Kochkovskoye deposits. According to the unaudited financial statement, gold output decreased by 17% YoY. The decrease is due to the drop in ore mining – in…

Russia: Seligdar losses up in H1 2018

In January-June Seligdar received 759.9 million rubles of net losses, up from 283.3 million rubles in H1 2017. At the same time the company revenue grew 1.6-fold, to 3.808 billion rubles. Gold sales accounted for 2.9 billion rubles, while tin and tungsten – for 270.8 million rubles. Other services (ore mining) accounted for 552.7 million…

Russia: GV Gold IFRS net profit down in H1 2018

The net profit of Russia’s gold producer GV Gold fell by 9.5% YoY, to $19 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue soared by 70%, to $146 million. Operating profit grew by 52%, to $43 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by…

Russia: Amur Zoloto extracts 790 kg of gold

In January-July Amur Zoloto LLC, extracting gold on the territory of Khabarovsk region, produced 789.5 kg of gold. In particular, the Yubileyniy GOK at the Krasivoye deposits produced 44.4 thousand tons of ore gold, with Yubileynaya factory processing 59.3 thousand tons of ore and producing 538.6 kg of gold and 333.9 kg of silver. Perevalnaya…

Russia: Chukotka’s gold output down

Gold output of the Chukotka Autonomous District is falling, governor Roman Kopin said in his letter to president Vladimir Putin asking for higher financing of geological exploration and better mechanisms of licensing of subsoil sites. Kopin said that the gold reserves of the unallocated subsoil reserve fund of the region stood at only 95.2 tons,…

Russia: gold output in Buryatia up in January-July 2018

In January-July the Republic of Buryatia extracted 2929.7 kg of gold, up by 7% YoY.

Ore gold accounted for 1983.9 kg, up by 4%, while alluvial gold output grew by 13%, to 945.8 kg.

Last year the region yielded 5677.9 kg of gold. (Ukrainian metal)