Kyrgyzstan, Russia Metals and Mining
In 2016, Highland Gold produced 261 thousand troy ounces (8.12 tons) of gold and gold equivalent against 262.4 thousand troy ounces (8.16 tons) in 2015.
Highland Gold, the largest shareholder of which is Roman Abramovich, wants to attract Chinese investors to the development of the Unkurtash deposit in Kyrgyzstan.
Vostok-geoldobycha, which won the license for Jerui deposit in Kyrgyzstan, has made a change of shareholder in June: The Cypriot Liontaine Holdings Ltd, 40% of which are owned by the Kyrgyz entrepreneur Alijan Ibragimov, became one of founders (99.9%).
Prior to July 18, 100% of Vostok-geoldobycha belonged to Amur Zoloto (a part of Russian platinum). In early June, the Ministry of Justice of Kyrgyzstan registered Alliance Altyn (owned by Denis and Musa Bazhaev on parity basis), which owns 60% of Liontaine Holdings Ltd.
Previously admitted contender Aldanzoloto GRK (a subsidiary of Polyus Gold Int) has refused to participate in the second stage of the competition for the right to use natural resources for the development of the Jeruy gold deposit and geological study of the Jeruy area.
The second stage of the competition takes place in Bishkek today, on April 28. Secretary opened the documents of the two remaining contenders: East-geoldobycha (a part of Russian platinum) offered $100 million, including bonuses and benefits package; Kyrgyzaltyn together with Unity Gold Mining also proposed $100 million under the condition of the continuation of the competition for 2 months.