The net profit of Russia’s gold producer GV Gold fell by 9.5% YoY, to $19 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue soared by 70%, to $146 million. Operating profit grew by 52%, to $43 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by…
In January-July Amur Zoloto LLC, extracting gold on the territory of Khabarovsk region, produced 789.5 kg of gold. In particular, the Yubileyniy GOK at the Krasivoye deposits produced 44.4 thousand tons of ore gold, with Yubileynaya factory processing 59.3 thousand tons of ore and producing 538.6 kg of gold and 333.9 kg of silver. Perevalnaya…
Centerra Gold Inc. has agreed with the government of the Kyrgyz Republic to further extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the government of the Kyrgyz Republic on September 11, 2017. The First Longstop Date is the date by which all conditions precedent…
The Central Bank of Russia has increased gold purchases to the maximum since the start of the year. In July Russia bought slightly over 26 tons of gold, increasing its gold reserves to 2170 tons valued at $77.4 billion. A larger purchase was only in November 2017. The Central Bank started increasing gold reserves in…
Gold output of the Chukotka Autonomous District is falling, governor Roman Kopin said in his letter to president Vladimir Putin asking for higher financing of geological exploration and better mechanisms of licensing of subsoil sites. Kopin said that the gold reserves of the unallocated subsoil reserve fund of the region stood at only 95.2 tons,…
In January-July the Republic of Buryatia extracted 2929.7 kg of gold, up by 7% YoY. Ore gold accounted for 1983.9 kg, up by 4%, while alluvial gold output grew by 13%, to 945.8 kg. Last year the region yielded 5677.9 kg of gold. (Ukrainian metal)
Nordgold has increased its initial gold output forecast for 2018 from 0.95-1 million ounces to 1-1.5 million ounces. The improvement of the forecast is due to the project to construct an underground mining site at the Berezitovoye deposits as well as the commissioning of the Gross mine in Yakutia. The operation at the Berezitovoye will…
In January-July Polyus Magadan produced 2.6 tons of gold and 0.7 tons of silver. The company is developing the reserves of the Natalka gold-ore deposits in Magadan region. The first ton of gold was produced in April. This year the company is expected to obtain at least 5.4 tons of gold. At present the capacity…
