Russia: Kupol life extended till 2023

Following prospecting works in 2018, Kinross Gold has decided to extend the development of the Kupol gold deposit in Chukotka till 2023. Previously it was supposed to wrap up work at the deposit in 2022. The increase of reserves enabled the company to extend the work at the site. This year Kinross Gold will spend…

Russia: gold exports down in 2018

Russia’s gold exports fell by 70% YoY, to 17.047 tons in 2018, the Assay Chamber at the Finance Ministry, which is responsible for state control over exports and imports of precious metals and stones, said in a report on February 19. According to the finance ministry, Russia’s gold refineries increased output by 2.45%, to 314.42…

Kazakhstan: gold production up in January 2019

Production of unwrought gold and semi-processed gold or in powder form reached 6,308 kg in January, up by 0.7% YoY, Statistics Committee of the National Economy Ministry reports.

In the accounting period the output of unwrought and semi-processed silver or in the powder form made 57,145 kg, down by 4.1%. (Kazinform/Ukrainian metal)

Russia: Priisk Solovievskiy gold output down in January 2019

In January Priisk Solovievskiy extracted 53 kg of gold, down by 37% YoY.

At present the company is developing the Solovievskoye deposit in Amur region.

Alluvial gold extraction will start in early May.

In 2018 Priisk Solovievskiy yielded 3.1 tons of ore and alluvial gold. (Ukrainian metal)

Russia: Druza gold output down in January 2018

In January Druza LLC extracted 68.3 kg of gold, down by 2.4% YoY.

At present the company is developing the Nevskoye gold ore deposit in Irkutsk region.

The development of alluvial sites will start in May and last through October.

In 2018 Druza LLC yielded 944.4 kg of ore gold. (Ukrainian metal)

Russia: gold ingots to be exempt of VAT

The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…

Russia: Ametistovoye becomes Kamchatka ADT resident

The company Ametistovoye has received the status of the Kamchatka Advanced Development Territory resident. The reason was the signing of an investment agreement valued at 4 billion rubles with the Far East Development Corporation. The company intends to construct a mine and modernize a mining and processing works at the Ametistovoye gold deposit. The project…

Ukraine: gold and silver output down in 2018

In 2018 Ukraine decreased the output of semi-wrought gold by 61.5% YoY, to 5 kg.

Unwrought silver (or powder) output also decreased – by 32.4%, to 1527 kg.

Semi-wrought silver manufacture fell by 50.2%, to 495 kg. (Ukrainian metal)

Russia: gold and silver output up in January-November 2018

In January-November 2018 Russia produced 290.3 tons of gold, up by 2% YoY.

Mined gold output grew by 4%, to 243.89 tons.

The manufacture of secondary and associated gold fell by 10%, to 14.43 tons and by 4%, to 31.98 tons respectively.

Silver output grew by 8%, to 1 thousand tons. (Ukrainian metal)

Armenia: ELARD selected to carry out probe at Amulsar mine

Lydian Armenia CJSC (“Lydian Armenia”) has received formal notification from the Investigative Committee of the Republic of Armenia that pursuant to the criminal investigation into alleged withholding of information by employees of the Ministry of Environmental Protection, an international consultancy group, Earth Link, and Advanced Resources Development (“ELARD”) has been selected to review all subject…