In 2018 the so-called Lugansk People’s Republic, a terrorist organization created and supported by Russia, intends to start developing gold deposits. According to the head of the LPR Igor Plotnitsky, this will be an important step to improve the republic’s economy. “We’ll try mining our own gold. The enterprise will not be too profitable, but…
In January-September Kinross Gold produced 13.535 tons of precious metals (435.15 thousand troy ounces in gold equivalent), down by 21.5% YoY. In particular, in Q3 output decreased by 18%, to 4.534 tons (145.76 thousand ounces), which was explained by the scheduled drop of gold contents in ore. In January-September the company sold 13.545 tons of…
In January-October Magadan region produced 29.1 tons of gold, up by 16.5% YoY. In particular, 12.1 tons of ore gold and 17 tons of alluvial gold, up by 31% and by 8% YoY respectively. The main contributors in the region were Pavlik (5.2 tons of gold) and Susumanzoloto enterprises (5 tons). This year the region…
Gold production in Russia’s northern Chukotka Autonomous District decreased by 12% YoY, to almost 22 tons and silver output fell by 20%, to 110.3 tons in January-October because of contraction of gold production at the Kupol, Dvoinoye, and Valunistoye fields, the regional government said in a statement on November 10. Placer gold output grew by…
A gold-bearing deposit with the reserves of some 100 tons has been found on the territory of Dagestan. The auction for the deposit will be held in 2018. The prospects of the Kurush ore node were confirmed in 2007-2010. In 2014 the Federal budget gave 150 million rubles for prospecting work in the Dagestani Mountains.…
The deputies of the Parliament didn’t support the introduction of customs duties on the export of gold ore. The decision was made on November 9 at a meeting of the Parliament. It was suggested that the rates of export customs duties on ore and concentrates of precious metals should be approved by the government at…
The VTB bank has signed an agreement with Susumanzoloto for the purchase of 2.6 tons of gold in 2018. This year the bank buys some 1.8 tons of the precious metal from the company. In 2 years VTB has provided Susumanzoloto with 2.3 billion rubles of loans for the construction of a mining and processing…
In January-October Irkutsk region obtained 19818 kg of gold, down by 1.6% YoY, including 10303 kg of alluvial gold and 9515 kg of ore gold. The four gold extractors still account for the most output: Polyus Verninskoye produced 5243 kg, Lenzoloto obtained 4418 kg, Vysochaishiy – 3557 kg and Vitim – 2861 kg of gold.…