By the end of the year KrysoResourcesLImited (China) intends to have mined 207 kg of gold at the Pakrut deposits. Gold output is expected to increase to 1-1.5 tons per year. The company started developing Pakrut in 2012. Since then investments have totaled $180 million, and $76 million more are needed. At present the project…
In 2017 Petropavlovsk Plc increased gold output by 9.8% YoY, to 439.6 thousand ounces (13.7 tons), while the plan was 420-460 thousand ounces. The prime cost of the gold manufacture last year was over $700 per ounce, higher than the expected range of $600-700 per ounce. Gold sales totaled 439.8 thousand ounces at the average…
The Ministry of Finances has prepared a draft bill to allow obtaining alluvial gold. When the bill is passed, the population will be able to freely extract alluvial gold on the riverbanks not owned by any company. But a license from the Ministry of Finances will be required for such an activity. The gold obtained…
In 2018 Kinross Gold has produced the 6-millionth ounce of gold at its Kupol mine since its commissioning. According to the company statement, in 2016 it produced 734143 ounces of gold. Kinross Gold is developing two deposits in Chukotka – Kupol and Dvoynoye. This year the company intends to start developing the Moroshka deposits. The…
In 2017 Russia increased gold output by 7.9% YoY. According to the Rosstat, silver production dropped by 0.6%. In December 2017 gold output grew by 1.3% YoY, while silver – fell by 4.6%. At the same time gold output growth was 2.5% MoM and silver – 45.7%. (Ukrainian metal)
Lydian Armenia announced on January 24 that Lydian International’s Amulsar Gold Mine in Armenia has been pre-operationally certified in compliance with the International Cyanide Management Code (ICMC/Cyanide Code). Lydian’s Amulsar Project is the first project worldwide to receive Pre-operational certification since revisions to the Code, published in 2016 – following amendments to the Code, and…
The increase in gold output will positively influence the economy of the Magadan region, the Council of the Federation member Anatoly Shirokov believes. In 2016 the region was one of the 3 largest gold producers in Russia. Last year Magadan region obtained 32.95 tons of gold, up by 18.2% YoY. The gold-extracting industry provides a…
In 2018 gold-extracting companies of Yakutia intend to get 24.5 tons of gold, up by 2.1% YoY. In 2017 output grew by 1.5% YoY because of the commissioning of the gold-extracting factory at Ryabinoviy Mining and Processing Works (Seligdar) and Drazhniy GOK (Taryn Gold-Ore Company), as well as the start of Neryungri-Metallic LLC operations at…