Kyrgyzstan: Chaarat Gold proposal to acquire Kumtor not to provide benefits to Centerra

The proposal by Chaarat Gold to acquire Kumtor does not provide sufficient benefits to Centerra, CIBC analytics said. As the organization notes, analysis suggests that the proposal does not provide sufficient benefits to Centerra, given its future funding obligations, despite improving the geopolitical risk profile. According to the analytics, the sale of Kumtor will significantly…

Kazakhstan: gold output up in January-May 2018

In January-May Kazakhstan produced 36621 kg of raw and semi-raw gold (powder), up by 7.2% YoY.

According to the Statistics Committee of the Ministry of national economy, silver output, on the other hand, dropped by 7.7%, to 410532 kg. (Ukrainian metal)

Russia: AGMK to process gold at the territory of rapid development

Far East Development Corporation and Amur Hydrometallurgical Works LLC have signed an agreement to process gold at the Komsomolsk territory of rapid development. The company intends to create the first in Russia hydrometallurgical complex to process refractory (rebellious) and twice-refractory gold and silver-containing concentrates, using the technique of the pressure oxidation. The project is estimated…

Kyrgyzstan: without investment gold production to decline

Without more investment in the mining industry, mineral production in the Kyrgyz Republic will decline over the next decade, report by the Natural Resource Governance Institute (NRGI), an independent nonprofit organization dedicated to improving countries’ governance over their natural resources to promote sustainable and inclusive development, says. As the author of the report “An Economic…

Russia: gold output up in May 2018

Russia’s production of finished, semi-finished, and powdered gold rose by 6% YoY and by 21.5% MoM in May, the Federal State Statistics Service said in a report. In January-May gold production increased by 2.9% YoY. Previously, absolute figures on production of non-ferrous metals were a state secret. The figures are no longer classified, but the…

Kazakhstan: RG Gold increases capacity

In spring RG Gold commissioned the third crushing complex at the Yuzhniy Raigorodok and Severniy Raigorodok in Akmola region. This allowed the company to increase annual ore processing from 1.3 million tons to 2 million tons and produce some 45-50 thousand ounces (1.5 tons) of gold. Investments in the development totaled $6.7 million in 2017-2018,…

Russia: Rosgeologia to evaluate gold reserves of Okino-Iyskaya territory

Irkutskgeofizika, a part of the state geological holding Rosgeologia, has started the summer field season with the prospecting works at the Okino-Iyskaya territory in Irkutsk region.

The goal of the project is to locate and evaluate R1 and R2 gold resources.

The project will be completed in Q4 2020. (Ukrainian metal)