Kumtor company increased salaries of its workers by 10% from January 1, and it will be increased by another 5% from January 1, 2018, the chairman of the Mining and Metallurgical Union of Kyrgyzstan Eldar Tadzhibaev reported. According to him, the company’s management and personnel signed a collective agreement for the next two years during…
SL Zoloto, a joint venture of state industrial corporation Rostec and gold producer Polyus, has won an auction to develop the Sukhoi Log gold deposit in the Irkutsk region having paid 9.4 billion rubles, Natural Resources and Environment Minister Sergei Donskoi reported. “SL Zoloto has become a winner of the auction for the largest gold…
The gold-processing works of Kyrgyzaltyn received 132.5 million soms of net profit in 2016, up by 84.1 million soms YoY. In 2012-2015 the average profit of the works was around 80 million soms. Output at the works increased last year by 25.4% YoY. (Ukrainian metal)
In 2016 refined gold production at Nord Gold totaled 868.8 thousand gold equivalent ounces, in line with the full year production guidance range of 840-880 thousand ounces. Doré production was 870.4 thousand ounces, down by 6% YoY (924.1 thousand ounces), mainly due to the discontinuation of production at Aprelkovo, and limited access in H2 2016…
In 2016 Russia decreased gold ingot output by 7.8% YoY, with December 2016 being the 5th consecutive month when the gold output decreased. In December 2016 gold output dropped by 4.6% YoY, but increased by 6.2% MoM. The Gold Manufacturers Union or Russia expects that in 2016 the country will produce 297 tons of gold,…
In 2016 Kazakhstan will mine 60 tons of gold, the vice-minister on investments and development Albert Rau forecasts. “In 1990 we mined less than 20 tons of gold, in 1997 dropped to 6 tons. In 2015 we mined 57 tons, last year we hope to reach 60 tons”, he said. Thus output increase is expected…
In 2016 Azerbaijan mined 1894.1 kg of gold, down by 15% YoY. According to the State Statistics Committee, in December 2016 the country mined 133.5 kg of gold, all the gold was sent for processing. In 2015 Azerbaijan mined 2229.3 kg of gold, up by 19.1% YoY. At present Azerbaijan mines gold and silver at…
At least 550,960 ounces or 17,136.78 tons of gold were produced at Kumtor mine located in Issyk-Kul region of Kyrgyzstan in 2016, Centerra Gold Inc. reported. Kumtor mine exceeded the mid-point (540,000 ounces) of Centerra’s favorably revised gold production outlook issued after last year’s third quarter. Kumtor’s production forecast for 2017 is expected to be…