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)

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)