Russia: Sberbank Leasing to finance Nordgold

Sberbank Leasing will lease special machinery to the international gold-extracting company Nordgold. Under the agreements, the company will finance the purchase of HD 785-7 quarry dump trucks and Komatsu PC2000BH-8 excavators. The machines will be supplied by Sumitek International LLC. The special machinery is needed to develop the Gross mine, the main Nordgold asset in…

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Ukraine: UGOK output down in September 2019

In September Yuzhniy Mining and Processing Works decreased sinter output by 59.3% YoY, to 68.4 thousand tons. In 9 months UGOK produced 945.8 thousand tons of sinter, down by 22.7%. Iron ore concentrate output in January-September grew by 2.5%, to 9336.4 thousand tons. But in September concentrate output remained unchanged at 970.6 thousand tons. (Ukrainian…

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Kyrgyzstan: agreement with Centerra to ensure more efficient operation of Kumtor

New strategic agreement between the government of Kyrgyzstan and Centerra Gold Inc. “completely justifies itself in terms of ensuring a more efficient and stable operation of the enterprise”, the Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev stated during a visit to Kumtor mine in Issyk-Kul region. According to the Information Support Department of the Government’s Office,…

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Russia: coal output to grow in 2019

In 2019 coal output could grow by 1.1%, to 445 million tons, according to a forecast of social-economic development for 2020 and 2021-2022. In 2024 the expected output could be 510 million tons and in 2022 – 483 million tons. In 2018 Russia exported 196.8 million tons of coal, including 23 million tons of coking…

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