Geological prospecting

Vysochaishy can mothball Ugakhansky GOK

Vysochaishy can mothball the Ugakhansky GOK if it’s not adjusted to an external energy supply and an operating on diesel electric energy because the project will become unprofitable with the gold price of 1,100 rubles per 1 g of gold compared to 1,541 rubles now, the CEO of the company S. Vasilyev says. Vysochaishy appealed for adjustment of Ugakhansky GOK to the grid connection but has not received the technical conditions as yet. Vysochaishy also suggested financing of construction of the static compensation batteries at the Bodaibo district substations but has not received such opportunity. The company is nearly locked in legal proceedings with the energy entities, Mr. Vasilyev says

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The Primorye region is going to develop hydro metallurgy

The Governor of the Primorye region V. Miklushevsky has visited the Lermontovsky GOK. He was asked by the workers about the prospects of the enterprise’s operation. Mr. Miklushevsky says that one of the main problems of the enterprise is limited tungsten reserves. It can be solved with additional exploration of the deposits. The enterprise’s owners and the management are ready to do that.

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RosGeo has completed field exploration at the Kegulta-Balkovskaya site perspective for titanium and zirconium alluvial deposits

Kavkazgeolsyomka JSC, a multi-profile geological holding of RosGeo has completed field exploration at the Kegulta-Balkovskaya site perspective for titanium and zirconium alluvial deposits. The site is located in Southern Federal Area in Kalmykia and the Rostov region. Additional geological exploration is performed within the state contract closed in April 2012. The company was granted the right to execute the work via the tender held by the Russian Subsoil Use Management Agency.

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The chief of RosGeo R. Panov: prospects of methane development from coal layers in Russia

The CEO of RosGeo R. Panov has visited Kemerovo. He made a report about the prospects of methane gas development from coal layers in the Kuznetsk coal basin within the cooperation agreement closed with Gazprom. The report was made at the joint session with the Deputy Chairman of Gazprom Management Board V. Markelov.
The methane of coal layers shares one third in total gas reserves in Russia. The Kuznetsk coal basin is the Russian largest reservoir of such methane. That’s why Gazprom’s technological experience would be important in such case for compiling of the approaches to development of non-traditional hydrocarbons from such deposits, R. Panov says.
RosGeo is ready to actively participate in elaboration of the issue. In 2013-2014, the holding made the analysis and generalization of the geological materials about methane from coal layers in the Kuznetsk coal basin. They elaborated and presented to the Ministry of Natural Resources and Ecology the suggestions about execution of geological work at the perspective objects.
Under the results of the session, they decided to analyze possible elaboration of the program for long-term cooperation of the sides in drilling and geological support to the wells at the perspective sites of the Kuznetsk coal basin. They also discussed possible elaboration of the sub-program for analysis and development of methane from coal layers within elaboration of the state program of ‘Development of non-traditional and hard-extractive hydrocarbon resources’.

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"Pavlik" to determine the Rodionovsk stocks by March 2015.

JSC "Gold Mining Company "Pavlik" (part of the FC "Arlan") expects to prepare a feasibility study of the temporary exploration conditions for the Rodionovsk deposit reserves (the Magadan Region) in March, Viktor Troitskiy, the executive director for the GMC exploration, told the PRIME agency.
"We are now at the stage of feasibility study of the temporary exploration conditions - Viktor Troitskiy stated. – We’ve already cut 27 kilometers, the feasibility study will be ready by spring. We assume that the reserves will make 65-70 tons of gold with the content of 3.5 g/t. Once the technology is identified - in October-November this year, it will be possible to do the approximate outline of the start-up cost".

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RosGeo prospects uranium in the Leningrad region

RosGeo represented by the geological and surveying party of the St. Petersburg geological expedition has started field exploration for diamonds, uranium and precious metals at the perspective Southern-Ladoga site in the Leningrad region. They are going to complete that in Q4 2015.
The company performs the work under the state mandate within the state program ‘The reproduction and use of mineral resources’ closed under the tender results in 2013. The specialists will design the state geological map on the scale 1:200 000 oriented to satisfying of the needs of economic and social development of the different regions of the state.

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Gennadiy Schmal: The stabilization of oil extraction should be the primary objective of the geology development strategy.

The State Duma held parliamentary hearings on the topic: "The Development Strategy for the Geological Sector of the Russian Federation until 2030". Our expert – the President of the RF Union of Oil and Gas, Gennady Schmal - commented upon the results of the parliamentary hearings.
"The strengthening of JSC "Rosgeologiya" by 10 state geological enterprises included in the privatization plan, and the creation of a network of federal budgetary institutions under Rosnedra's jurisdiction – is a small private matter that does not reflect the situation that exists today in the geological sector of the country. The logical question arises: why ten, not twenty organizations, not all the other companies that are still represented in the industry?

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Metinvest has transferred $5 million more to Black Iron within closure of the transaction for purchase of 49% in the company

Metinvest B.V., the holding company of the Ukrainian largest mining and metallurgical group Metinvest has transferred one more tranche of $5 million to the Canadian Black Iron Inc. within closure of the transaction for purchase of 49% in Black Iron (Cyprus) Ltd. (BKI Cyprus), owning iron ore assets in the Dnepropetrovsk region of the Ukraine. Thus, Metinvest has paid off $15 million of $20 million of the total sum of transaction. Metinvest B.V. should pay the rest of $5 million until July 15th, 2014.

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"Norilsk Nickel" adds specifics in its strategy.

MMC "Norilsk Nickel" has presented an updated strategy through until 2018 with the investment capacity of $ 9.5 billion: it plans to upgrade its facilities and launch the Bystrinsk Mining and Processing complex, and then the focus in the production will be on Chita copper, which will go to China.
The expected economic effect – is $ 4.5 billion, excluding the new geological possibilities of Taimyr.
By 2018, the company plans to increase its copper production by approximately 20% mainly due to the Bystrinsk Mining and Processing complex (the Chita project), the production of other metals will remain approximately at the level of 2013. Moreover all the capacities of the company will be updated.
The fact of "Norilsk Nickel" production in 2013 and the forecast for 2014-2018:

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The start of Udokan development is postponed by 4 years to 2022

The Russian Government has  postponed the start of the Udokan copper deposit development is by 4 years to 2022, the Minister of Natural Resources and Ecology S. Donskoy says. The projected capacity of 36 million tons of ore is postponed to 2024.
Postponing of the date  of the deposit development is connected with the need ti change the technology of the deposit development under the results of geological exploration and synchronization of the terms of the license agreement with the terms of construction of the energy and transporting infrastructure, Mr. Donskoy says.

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