The Nordgold SE board of directors decided to sell the Zun-Kholba deposit in the Republic of Buryatia. The sale is expected to take place until the end of the year, and the company has already carried out negotiations with some buyers. As of December 31, 2019 the balance cost of the deposit was $25.1 million.…
In January-September Nordgold extracted 759.6 thousand ounces of gold, up by 12% YoY. The increase is mostly due to the commission of the Gross mine last year, which has extracted 191.9 thousand ounces, as well as the output growth at the Berezitoviy mine by 8%, to 44.3 thousand ounces. At the same time, the Bissa…
The gold output of the gold mining company Nordgold, controlled by the Russian businessman Alexei Mordashov, rose by 12% QoQ, to 288,900 ounces in July-September, the company said in a statement on November 13. The average price of gold sales increased by 12%, to $1,474 per ounce in the period. In January-September the company’s gold…
Sberbank Leasing will lease special machinery to the international gold-extracting company Nordgold. Under the agreements, the company will finance the purchase of HD 785-7 quarry dump trucks and Komatsu PC2000BH-8 excavators. The machines will be supplied by Sumitek International LLC. The special machinery is needed to develop the Gross mine, the main Nordgold asset in…
Russian businessman Alexei Mordashov has passed the control over gold mining company Nordgold to his sons Kirill and Nikita, the company said in a statement. According to a prospectus for placement of Eurobonds, Nordgold’s key shareholder is Ocean Management Limited registered on Cyprus, owning 94.88% in Nordgold directly and 5.06% through Aurora Nominees Limited. Unifirm…
In January-June Nordgold received $61 million of net profit, up by 9% YoY. EBITDA grew by 6%, to $259.9 million and revenue – by 5%, to $621.8 million. In Q2 net profit dropped 10.5-fold QoQ, to $6.1 million, EBITDA went up by 18%, to $144.3 million and revenue – by 20%, to $339.2 million. The…
Russian gold producer Nordgold has signed an option deal with Alicanto Minerals Ltd for a preemptive right for a buyback of the Arakaka gold ore mining project in Guyana, the company said in a statement on June 19. Under the agreement, Nordgold gets an option to buy 100% in Arakaka in exchange for $3 million…
In January-March, Nordgold gold output totaled 211.7 thousand ounces, down by 9% QoQ. Corrected EBITDA dropped by 2%, to $122.5 million. Net profit grew to $64.3 million as opposed to net loss in Q4 2018. (Ukrainian metal)