Russia

Nordgold reaches out to South America – the company to work in French Guiana

Nordgold of Alexei Mordashov may become the first Russia gold producer in South America. The company received an option for joint with Canadian Columbus Gold development of the large deposit Montagne d'Or in French Guiana. Experts note that Nordgold has to resort to overseas expansion because the resource base in Russian and the CIS states has been distributed among other players and potential of the reserves increase at Nordgold’s projects is small.
The gold-mining company Nordgold, controlled by Alexei Mordashov, has received a three-year option from Canadian Columbus Gold Corp for purchase of 50.01% of the company Sotrapmag Sas’ shares, which owns a license for the Montagne d'Or deposit in French Guiana (South America). The predicted resources of Montagne d'Or are 4.15 million ounces of gold, the metal content is 2.2 g per ton.

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Kamensk-Uralsky non-ferrous metal working plant expanded the geography of export supplies

Kamensk-Uralsky non-ferrous metal working plant has expanded non-ferrous rolled stock
export geography over the 6 months of 2013. The enterprise has organized supplies to new clients from Europe, Baltic States and the CIS countries.

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UGMK to construct a safe furnace at Svyatogor

UGMK will construct a safe furnace at Svyatogor (UGMK, Krasnouralsk) and increase copper production by 20% without any damage to ecology.
In 2013 the investments in the project will make up 198.2 million RUR. Totally UGMK is going to invest about 5 billion in technical re-equipment of Svyatogor.

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The Russian government approved the tax maneuver in oil sector

The governmental committee for budget planning has supported the tax maneuver in oil sector. The first vice-premier of the Russian Federation I.Shuvalov said.
“The MET is included into the tax maneuver in the form you have seen in the documents. There were suggestions to make it even stronger,” he said.

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Highland Gold decreases capital expenses forecast-2013 by 29%

The British company Highland Gold Mining (HGM, 32.6% belong to Millhouse of Roman Abramovich), which mines gold in Russia, has decreased its capital expenses forecast by 29.3% in the current year to $140 million as compared with plans, voiced in April ($198 million).
“Our capital expenses forecast in 2013 is $140 million,” – the company’s Financial Director Alla Baranovskaya reported during the phone conference.

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Petropavlovsk sells its placer deposits in Kolyma for $25 million

Petropavlovsk Plc. has signed an agreement with Susumanzoloto Plc. (the Magadan Region) about selling its 76.62% in Berelekh Plc. dealing with the development of placer gold deposits in Kolyma, the gold mining company reports.
The amount of the transaction makes up $25 million. The company is going to obtain the approval of FAS and the shareholders. The funds obtained will be spent on the reduction of debt.

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NOVATEK got 70% in GPB Mediterranean, created for participation in the tender on the shelf of Lebanon

Novatek Overseas, a subsidiary of the Russian largest independent gas producer OJSC “NOVATEK”, became the owner of 70% in GPB Mediterranean (present Novatek GPB Overseas), which was created for the participation at a tender for the right to develop the shelf of Lebanon, said  a statement of the gas producing company.
“Rosneft”, LUKOIL and NOVATEK prequalified to take part in the first licensed round for the right to carry out geological exploration at the shelf of Lebanon, the Minister of Energy of Lebanon Gebran Basil said.

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Rosneft to take the whole sea

Private oil companies, which don’t have right to work on shelf, have let the state company Rosneft to take two sites in the conventional waters of the Okhotsk Sea without a struggle. Lukoil was the only company, which expressed an interest in working on the sea fields – it has claims for the Vostochno-Taimyrsky site, but it will have to compete with Rosneft even there, Kommersant writes.
Yesterday Rosneft won at the auctions of Rosnedra for the exploration and development of the Amur-Limansky and the Vostochno-Pribrazhny sites in the transit sector of the Okhotsk Sea. In fact, the company struggled with itself: only its subsidiary Sakhalinmorneftegaz participated in the auctions. According to a source, who is close to Rosnedra, “the participants made only one step”.

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Rosneft to increase the dividends if the government and the President make the corresponding decision

Rosneft will increase the dividends if the government and the RF President make the corresponding decision, the company’s representative reported.
The idea to increase the dividends for state companies to 35% of IAS profit belongs to the Ministry of Finance. “This is about 2016. While designing the budget, we have taken into account the additional resources (up to 105 billion RUR in 2016) from the dividends calculated proceeding from IAS profit at the amount of 35%”, the RF Minister of Finance Anton Siluanov reported.

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Federal Property Management Agency not to know about possibility of purchase of a share in Uralkalyi by Rosneftegaz

The Federal Property Management Agency doesn’t know about possibility of the purchase of the billionaire, Suleiman Kerimov’s share in Uralkalyi by Rosneftegaz, the Head of the Agency, Olga Dergunova stated to journalists.
“We know nothing about it,” – she said. According to the current legislation, strategic companies like Rosneftegaz must receive a corresponding directive of the Federal Property Management Agency to conclude such large deals.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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