The largest Petropavlovsk shareholder Kenes Rakishev has confirmed that the autoclave hydrometallurgical complex at the Pokrovsky mine in Amur region is scheduled to be commissioned in September. The autoclave started operating in a test mode last December. The first gold ingot was also received that month. 4 autoclaves are assembled at the mine. In September…
The gold output of Petropavlovsk Plc, which operates gold deposits in Russia, decreased by 4.4% YoY, to 107,700 ounces, or 3.35 tons, in January-March, the company said. Petropavlovsk still plans to raise gold production to 450,000-500,000 ounces in 2019 from 422,300 ounces produced in 2018. The total cash costs may also rise to $850-950 per…
Gazprombank is looking for a strategic investor for the gold-extracting company Petropavlovsk to buy a share in IRC. According to a major Petropavlovsk shareholder Kenes Rakishev, who owns 22.42% in the company, a major steel company could be such an investor. He didn’t give any names though. At the same time the sale will be…
In 2018 Petropavlovsk plc decreased gold output by 3.9% YoY, to 422.3 thousand ounces. This year the company expects to produce 450-500 thousand ounces. Petropavlovsk is among 5 largest gold producers in Russia. Its main assets are in Amur region: Pokrovsky mine, Pioner, Malomyr and Albyn. (Ukrainian metal)
Kenes Rakishev, the largest shareholder of Petropavlovsk, is prepared to buy 10-15% of IRC, if it decided to sell it. The group owns 31.1% in IRC, the only manufacturer of iron ore on the Far East. The company is operating at Kimkano-Sutarsky Mining and Processing Works. Rakishev believes now is a good time for a…
Petropavlovsk has put into operation the processing of gold-containing concentrate at its first autoclave. As of early December 320 tons have been processed. The extraction is 93%, not much below the targeted 98%. The manufacture of gold from refractory ore, according to the company, will start in Q1 2019. The second autoclave is being commissioned,…
The mining-metallurgical company Fincraft Resources has concluded a deal to consolidate 22% of Petropavlovsk plc shares by buying Fincraft Holdings Ltd. The amount of the deal is not disclosed. Fincraft Holdings Ltd (Cyprus) bought 22.42% in Petropavlovsk in late 2017. (Ukrainian metal)
In July-September Petropavlovsk Plc, extracting gold at four mines in Amur region, obtained 102 thousand ounces, on par with the corresponding period of 2017. Pioner provided 30.2 thousand ounces of gold, Pokrovsky – 0.7 thousand ounces, Malomyr – 32.6 thousand ounces and Albyn – 38.5 thousand ounces. In January-September gold output dropped by 10% YoY,…