Gold

Polymetal to increase gold production at Albazino by 13.3% in 2013

Polymetal Int. is about to produce 205 thousand ounces of gold in concentrate (6.4 tons) at the deposit of Albazino (Khabarovsk region) in 2013. It is by 13.3% more than in 2012.
They are about to produce 55 thousand ounces (1.7 tons) in Q1, 2013. The prime cost of production is about to make up $734 per an ounce in 2013. It is by 7.2% less than in 2012.
According to Polymetal, an average content of gold at the deposit will be at approximately 4.8-4.9 grams per a ton this year against 5.3 grams per a ton in 2012, while the recovery ratio – 88%, as last year.

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Polyus Gold postponed the launch of the Natalkinsky GOK in Kolyma until summer 2014

Polyus Gold International Ltd., the largest gold producer in Russia, has postponed the launch of the Natalkinsky GOK in the Magadan region until summer 2014. It is said about in a statement of the company. The production capacity of the GOK is going to make up 13-15 tons of gold a year.
Earlier the company was about to put the Nalakinsky GOK into operation in late 2013. They anticipated the GOK to produce 500 thousand ounces of gold a year (15.55 tons) in 2014.

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Novoyi mining and metallurgical combine will start gold production in Central Kyzylkumy

Before the end of the year, Novoyi mining and metallurgical combine will start gold production at the new open-cast pit Bessopantau in Central Kyzylkumy. It will reach its projected capacity of 15 million cubic m of ore in 2015; investment will reach $60 million.
The combine is the main gold producer and the monopoly uranium producer in Uzbekistan. Within the latest years, it made over 60 tons of gold, and total gold yield in the state was 90 tons. The combine’s production complex comprises 4 metal works in Navoyi, Zarafshan, Uchkuduk and Zarmitan.

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Russia to increase production of gold by 3.5% in 2013

In 2013 production of gold in the RF will increase by 3.5% in annual terms – to 234 tons, the Head of the Gold Miners’ Union Sergey Kashuba reported.

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In January-February, Kazakhstan increased gold production by 18% to 6.9 tons

In January-February of 2013, 6.908 tons of green and semi-finished gold, as well as powder gold were produced in Kazakhstan that is by 18% more than in the same period of the last year, the republic’s Statistics Agency reports.

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Seligdar will increase gold reserves by one third

The Seligdar gold production holding operating in Yakutia, Buryatia, the Altai region and the Orenburg region is going to present for state expertise  balance reserves of 32 tons of ore gold and 500 kg of alluvial gold by C1 + C2 under the results of geological exploration.

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Nord Gold N.V. has completed the consolidation of High River Gold Mines Ltd

Nord Gold N.V. and Canadian High River Gold mines Ltd have completed the earlier announced transaction on the consolidation of all the shares of High River, not belonging to themt, within the framework of the corporate code of Yukon district.
The transaction got the approval of a required number of share holders and options for the shares of High River at an extraordinary meeting on February 25, 2013. The High Court of Yukon issued a permit on February 28. The deal was closed on March 12, 2013. High River filed a petition on the delisting of its shares from a Stock Exchange of Toronto. Besides, High River is about to petition the Canadian regulator for a release of a reporting issuer status in the appropriate provinces as of securities sector.

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Interview with CEO of Polymetal, V. Nesis

On March 12th Polymetal celebrates is 15th anniversary. The CEO of the company, V. Nesis, talked about the start of the company, success and failures, and the new platinum business.
 
Q: 15th anniversary – is it a long or short period? It depends on what has been done and how to treat it. Let’s have a look. The company was founded by your brother. Did he tell you what it all began with?
A: I might not be aware of all the details but I know the general history. By the mid 90s there appeared the idea to use the personnel of the Soviet uranium sector which stayed in the central Asia to produce gold in Russia. Initially it was planned to produce it only by the heap leaching method but gradually the idea developed and in 1938 Polymetal was founded – the company which had a status of a technological expert in various methods of metal extraction.

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Almalyk mining and metallurgical complex successfully completes February

A meeting under the chairmanship of the General Director Alexander Farmanov took place at Almalyk mining and metallurgical complex (Uzbekistan). The results of February and the first days of March have been summarized, the enterprise’s press service reported.

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Petropavlovsk to attract Chinese investors for the development of IRC

The shareholders of Petropavlovsk PLC have approved the conclusion of the agreement with the Chinese companies General Nice Development Ltd and Minmetals Cheerglory Ltd. on the attraction of $238 million for the development of the iron-ore company IRC Ltd. It is said  in a statement of the company, placed on a web site of the London Stock Exchange.

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