Gold

Uzbekistan to increase gold mining.

In 2015-2019 Uzbekistan plans to increase gold production by 20% as a minimum and 30% - according to optimistic forecasts, to the order of 120-130 tons annually.
So, Navoi MMC will build four gold mines for $ 330 million, will upgrade the existing quarries "Muruntau" and "Zarmitan" for $ 485 million.

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Polyus to switch to Cyrillic alphabet: parent company of the group may become Polyus Zoloto

The gold-mining company Polyus Gold of Suleiman Kerimov has begun preparations for the change of the parent company. according to sources of the Kommersant, Jersey’s Polyus Gold International should be replaced by the Russian, Polyus Zoloto. Polyus has already started a parallel listing of shares and eurobonds at the Moscow Stock Exchange (previously they were listed only on the London LSE), and now asks for the consent of bondholders to replace the parent company. The market explains this with the fact that Mr. Karimov wants to obtain "more control over the company", which is prevented by the institution of independent directors, which is required for a premium listing on the LSE.

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“Amur Minerals” is ready to invest up to 1.5 bln roubles into Malmyzhsky gold deposit

​“Amur Minerals” Ltd plans to invest up to 1.5 bln roubles into the development and exploration of the Malmyzhsky gold and copper deposit in the Nanaysky district of the Khabarovsk region, the press service of the regional Government reports on the results of the meeting of the Governor, V. Shport and CEO of “Amur Minerals”, T. Bowens.
“Amur Minerals” plans to construct a mining and processing plant at the Malmyzhsky ore field the balance reserves of which are assessed at 273 tons of gold.
According to the law “On subsoil”, the Malmyzhsky deposit refers to federal sites by the volumes of its gold and copper reserves. In this case the decision on the issue of permission for exploration and extraction is made by the Government of Russia. In this connection the company asked the regional Government to support the project and help to receive the permission.

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Nordgold dramatically increases gold mining and decides to pay dividends

International mining company Nord Gold NV has reported about increase in its gold production in the first quarter of 2015 by 26% to 266.7 thousand ounces, as well as about increase in EBITDA by 83% to $189.7 million.
"I am pleased to report that in the last quarter, the company again achieved excellent financial results. In parallel with the increase in the production costs at all mines were reduced. The cost reduction more than offset the effect of reducing the price of gold during the period and allowed the company to obtain the free cash flow in excess of $120 million, as well as to review the annual forecast of AISC indicator to decrease it,"- said general director of Nordgold Nikolai Zelensky.

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Polyus Gold to pay final dividends in the amount of 6.08 cents per share

At the annual meeting on Friday, shareholders of Polyus Gold Int decided to pay final dividends for 2014 at the rate of 6.08 cents per share, in total - 184.5 million, the company reports.
The shareholders also re-elected the company’s Board of Directors, fully preserved its composition.

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Khabarovsk region reduced gold mining by 27% in Jan-April

​The subsoil users of the Khabarovsk region in Jan-April 2015 reduced gold extraction by more than 27% against the same period in 2014 – to 4.7 tons, the head of the subsoil use management of the Ministry of Natural Resources of the Khabarovsk region, N. Ischuk, says.
In Jan-April 2015 the mining enterprises of the Khabarovsk region produced 28.7 tons of silver – the entire volume of metal from the ore deposits.
The major volumes were extracted by the enterprises in the structure of Polymetal: “Albazino Resources” OJSC – 2.3 tons of gold from the Albazino deposit in the area of P. Osipenko; “Okhotskaya GGK” OJSC – about 800 kg of gold and almost the entire volume of extracted silver from the Khakandzha deposit in the Okhotsk district.

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Polyus Gold and the China National Gold Group agree on cooperation.

Polyus Gold Int (combines the assets of "Polyus Gold") and the Chinese state gold mining corporation (China National Gold Group) signed a cooperation agreement.
Earlier, Polyus Gold stated that the agreement is broad and applies to different areas of cooperation. In accordance with the document, the parties will cooperate in several areas, including the procurement of industrial equipment and materials, design and construction of industrial facilities, as well as the development of new projects in the field of mining and production of gold.

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“Russian platinum” has won the tender for Jerui gold deposit

​“Vostok-geoldobycha” OJSC (in the structure of GC “Russian platinum”) has won a tender for the development of the Jerui gold deposit and geological study of the Jerui site in Kyrgyzstan.
There were 2 participants in the final of the tender. Kyrgyzaltyn OJSC received 305 points, “Vostok-geoldobycha” OJSC – 405 points. The winner will be issued the license after the full payment of the price offered by it for the right to use the subsoil.
“Vostok-geoldobycha”, Aldanzoloto GRK OJSC (in the structure of Polyus Gold Int) and Kyrgyzaltyn OJSC (in cooperation with Unity Gold Mining Ltd (UK) which undertook all the expenses for the joint participation in the tender) applied for the tender. All 3 participants passed to the 2nd round of the tender. Later Aldanzoloto refused to participate in the 2nd round.
At the 2nd stage of the tender on Aril 28th, “Vostok-geoldobycha” offered $100 mln for the license, including bonuses and a social package; Kyrgyzaltyn – also $100 mln on the condition of prolongation of the tender for 2 months.

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In Q1 KAZ Minerals produces 19 thousand tons of cathode copper, the plan for the year is 80-85 thousand tons.

In Q1 2015 KAZ Minerals Group, the largest copper producer in Kazakhstan, produced 19.1 thousand tons of copper cathode, the press service of the company informs.
"The pace of production will allow achieving 80-85 thousand tons scheduled by the end of the year. The production of copper in concentrate was 21.5 thousand tons", - the press release informs.

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Polyus Gold maintain production volume in the Krasnoyarsk region

Let’s recall that Polyus developes three industrial sites in the Krasnoyarsk region - the Olimpiada, Blagodatnoye and Titimukhta, located in the North-Yenisei district. The first quarter at the Olimpiada deposit was finished with a 3% excess of the results in the same period of the previous year: the volume of the gold production here was 182 thousand ounces.
"Due to to the continuous improvement of the operating efficiency, we increased recovery factor in the flotation process, improved performance of equipment for crushing ore, which allowed ys to grow the volume of ore processing by 14% to 2.2 million tons. This is equivalent to 9 million tons of ore per annum, which exceeds the design capacity of the gold mining plant by 1 million tons," - said managing director and head of the Krasnoyarsk business units of the company Anatoly Barilyuk.

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