The output of U.K. Highland Gold Mining (HGM), which mines in Russia, grew by 0.3% YoY, to 75,000 ounces of gold and gold equivalent in July-September, the company said in a statement on October 21. Production at the Mnogovershinnoye deposit fell by 9.4%, to 28,950 ounces in the period, output at the Novoshirokinskoye fell insignificantly…Details
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The Russian companies plan to sign a memorandum on finishing construction of the Ajaokuta steel plant in Nigeria during the Russia-Africa forum scheduled for October 23-24, Andrei Slepnev, CEO of the Russian Export Center, reported. “We plan to sign the most important cooperation memorandum to finish construction of the Ajaokuta Steel Plant in Nigeria. Returning…Details
Employees of Kara-Balta Mining Combine ask members of the parliament to hold off on passing a bill banning extraction and processing of uranium and thorium. According to Maxim Savosin, Deputy Director for Production at Kara-Balta Mining Combine, the bill may lead to complete closure of the combine. It has been working without failures for more…Details
Average republican coal prices have grown by 27.04 soms per ton, or by 0.6%, over the week. The National Statistical Committee of Kyrgyzstan presented such data. According to the committee, the maximum average consumer prices for coal were registered in Batken (8,500 soms), Kara-Suu (7,745.97 soms) and Nookat (6,986.64 soms). At the same time, the…Details
Last week the price of one ounce of gold increased by 7.599 manats or by 0.3%. Accordingly, the average price of one ounce of gold stood at 2,531.2014 manats. The price of one ounce of silver decreased by 0.0747 manats or by 0.25%, to 29.7769 manats. The price of one ounce of platinum dropped by…Details
Georgian Manganese Company has released a preliminary conclusion for the tragic incident that occurred at Darkveti mine in the western region of Chiatura, saying that the fatality “was not caused due to technical malfunction, a land collapse or any other accident at the scene”. Miner Gaga Botchorishvili, 26, died at the Darkveti mine. “It is…Details
Metalloinvest has started selling premium quality pellets from Mikhailovsky Mining and Processing Works. The pellets with the iron content of not less than 63% were produced for ArcelorMittal and Nippon Steel out of concentrate from Mikhailovsky and Lebedinsky GOKs. Metalloinvest is carrying out a project to increase iron ore concentrate and pellets quality at MGOK.…Details
Evraz will increase its capital investments in 2020-2023 from $850 in 2019 to $1 billion per year. The list of main investment project will not change. The main projects are modernization of the rail and beam mill at Evraz NTMK, construction of flat rolled metal manufacture at Evraz ZSMK and the new line to produce…Details
U.K.-based mining giant Evraz, which operates mainly in Russia, has no plans to change its dividend policy, Vice President for Finance Nikolai Ivanov said during the company’s investor day. “We are not considering any changes to our dividend policy as of today,” he said. Under the company’s dividend policy, it pays at least $300 million…Details
The blast furnace No. 3 of Mariupol Ilyich Iron and Steel Works has been shut down for capital repairs. The company intends to repair the furnace shaft, the blast furnace top and the charge loading equipment as well as modernize the furnace dust-exhaust system. The goal of the repair is to restore the blast furnace…Details
Shokpar and Gagarinskoye deposits have the reserves of over 21 tons of gold and 135 tons of silver. The reserves have been added to the state balance. In particular, the C1+C2 reserves of Gagarinskoye deposit amount to 2257.4 thousand tons of ore, 10104.3 kg of gold with the average content of 4.48 g per ton…Details
Uralelectromed has put into operation its second Outotec pelletizing furnace. The capacity of the machine is 2.6 tons of slurry per day. The operation of two furnaces will increase the efficiency of processing raw materials containing precious metals. The duration of smelting will decrease by 20%, while at the same time increasing the output of…Details
Severstal Board of Directors has recommended paying dividends for Q3 in the amount of 27.47 rubles per share. The decision will be taken at the extraordinary shareholders’ meeting scheduled for November 22. If the meeting approves of the decision, the date of creation of the list of shareholders liable for dividends will be December 3.…Details