Russian gold producer Polyus has finished drilling at the Sukhoi Log gold field and plans to finish the project’s feasibility study before 2021, CEO Pavel Grachyov announced. “We finished the drilling program we started in 2017. It was an important and capital-intensive stage. We are now analyzing drilling samples, which would take several months. We…
“No new land was allocated to Kumtor for geological exploration. At least 16,000 hectares were allocated back in 1994 and 1997,” Karybek Ibraev, Deputy Chairman of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan, announced. According to him, the territory of Sarychat-Ertash nature reserve is clearly set by a government decree. The…
Altyn Plc reports the restoration of gold output volumes in July after the drop in H1 due to the machinery breakage and delays in drilling programs. Losses before interest in H1 totaled $603 thousand as opposed to profit of $603 thousand in January-June 2018. The company is negotiating a loan of $17 million to spend…
Information that the government of Kyrgyzstan, under a new agreement with Centerra Gold, allegedly agreed to allocate 16,000 hectares of land in Sarychat-Ertash nature reserve for gold mining appeared on social networking websites. Chairman of Kyrgyzaltyn OJSC Almaz Alimbekov denied the information. According to him, the territory of the concessional area, including 16,000 hectares, is…
Kyrgyzstan has managed to increase receipts under a strategic agreement with Centerra Gold, head of Kyrgyzaltyn Almazbek Alimbekov announced at a press conference at the Government. According to him, as a result of long negotiations, the Kyrgyz Government has managed to conclude an agreement with Centerra Gold, increasing receipts to $150 million. “For example, under…
Government of Kyrgyzstan hopes that operation of Kumtor mine will be extended for 5-6 years. According to the head of Kyrgyzaltyn OJSC Almazbek Alimbekov, Centerra Gold has already allocated $24 million for exploration. “The work was carried out by local companies, so the money remained in the country. If the mine will operate for other…
“Settlement of issues related to the Kumtor project may encourage foreign investors to provide additional resources for development of the mine,” Aigul Berdigulova, Analyst at the Economic Analysis Department of the Eurasian Development Bank, declared. According to her, entry into force of a strategic agreement between the Government of Kyrgyzstan and Centerra Gold brings certainty…
The miners team Vitim, developing the alluvial sites in Irkutsk region, since the start of the season has extracted 1263 kg of gold, down by 5% YoY. Last year as of August 1 the company extracted 1332 kg of gold. According to the output plan this year the company has to yield 2800 kg of…
