Molybdenum, Russia Metals and Mining

Tyrnauzsky deposit to put up for auction in Q2

The Tyrnauzsky wolfram – molybdenum ore deposit (Kabardino-Balkariya) will put up for auction in Q2.

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The Tyrnauzskoye deposit to be put up for auction before the end of this year

The auction for the Tyrnyauzskoye deposit of tungsten and molybdenum ores (Kabardino-Balkaria) will be held in the second half of this year, the Russian Minister of Natural Resources and Ecology Se

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FLUOR finishes preliminary design of Baimsky GOK

In 2016, Canadian engineering company FLUOR will finish the preliminary design of Baimsky GOK, this follows from the words of Baimsky GOK’s general director (part of Roman Abramovich's Mi

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Molybdenum concentrate output in Russia is up

In January-July 2016 the production of molybdenum concentrates in Russia increased by 7.2%, the Federal Service for State Statistics reports.

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The Russian Government has granted to Amur Minerals the permit for gold production at Malmyzh

The Russian Government has granted to Amur Minerals LLC the permit for ore gold, copper and associated components exploration and production at the federal importance site including the Malmyzh fie

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Rostec to sell shares in two joint ventures to Mongolia

State-owned corporation Rostec will sell 49% in the joint ventures of Erdenet and Mongolrostsvetmet to the Mongolian side, RT Business Development, investment holding company of Rostec, reports. The agreement for the sale was signed on Tuesday.
The transaction value isn’t specified, but RT Business Development calls the received amount "the largest one-time receipt of funds in the history of Rostec".
Earlier, the Bloomberg reported that Rostec could get $500 million for the Mongolian assets.

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Russian Govt may support production of alloy raw materials

The Russian Ministry of Natural Resources has offered a range of state benefits for development of deposits, providing Russian steelmakers with alloy raw materials to reduce their dependence on imports (more than $500 million per year). Thus, the Ministry proposes to nullify the severance tax for new projects, to use the Federal State Reserve Agency’s purchases to support the demand, to decrease tariffs of monopolies. A number of manufacturers welcome the idea of ​​the state support, but the position of metallurgists is more cautious: according to sources of the Kommersant, the imported alternative holds back prices of the Russian raw materials suppliers.
The Ministry of Natural Resources has proposed to support the development of deposits of solid minerals that are important to reduce dependence on imports of iron and steel on account of the budget; this follows from the letter of the Deputy Minister, head of Rosnedra Evgeny Kiselyov dated April 8 to the Ministry of Industry. The Ministry prepared the proposals on behalf of the Deputy Prime Minister Arkady Dvorkovich, who held a meeting with steelmakers in February.

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Restart of Tyrnyauz GOK scheduled for before 2020

Russian Minister on Affairs of the North Caucasus Lev Kuznetsov has met with the first deputy general director of the state corporation Rostec Vladimir Artyakov. The meeting was also attended by the Deputy Minister on Affairs of the North Caucasus Andrei Reznikov and representatives of Rostec’s subsidiaries, involved in the implementation of projects in the main areas of joint activities.
The cooperation with Rostec is carried out in the framework of the project on creation of the mining and metallurgical complex on the basis of the Tyrnyauz tungsten-molybdenum deposit (developed jointly with RT-Global Resources) and on creation of high-tech production of carbide tools (implemented jointly with Stankopromom). The third project is the creation of the North-Caucasian scientific and industrial cluster of radioelectronics (implemented jointly with Roselectronika).

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Intergeo protects 710 thousand tons of the Ikanskoye copper

“Amurmed” LLC (part of “Intergeo” of M.Prokhorov) has protected the reserves of the Ikanskoye deposit (Zeya district, Amur region) in the volume of 710 thousand tones of copper (within the boundaries of the quarry), the director of the company A.Perestoronin said.
The reserves are confirmed by the State Commission on Mineral Reserves (GKZ) in late October 2015. “Amurmed” is about to start the development of the deposit in 2021-2022, the local mass-media writes.

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Norilsk Nickel not to develop the Bugdainskoye deposit

Norilsk Nickel has temporarily refused to develop the Bugdainskoye polymetallic deposit (Chita region) because of the fall in prices for molybdenum, vice-president of Norilsk Nickel Andrei Bugrov reported.

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