Polyus Gold

The largest Russian vein gold deposit might be set for an auction by the end of 2013

The hard-rock gold deposit Sukhoi Log is located in the Irkutsk region, 135 km to the north of the town of Bodaibo. The site is of federal-status mineral resources. Its scale makes up about 2.956 thousand tons of gold and 1.541 thousand tons of silver, according to the projections, made in 2008.

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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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Polyus Gold is going to achieve production of 100 tons of gold

By 2016, Polyus Gold is going to increase gold production by 67% to 87 tons or 2.8 million ounces annually compared to 2012. In July 2011, the company was going to achieve annual production of 2.8 million ounces of gold by 2015. In 2013, Polyus Gold is going to double capital investment to $1.5-1.6 billion compared to $70-750 million in 2012, and $341 million in 2011. Last Polyus Gold increased gold production by 12% to 1.68 million ounces or 52.25 tons, revenue by 22% to $2.8 billion. In 2013, Polyus Gold is going to produce 1.59-1.68 million ounces or 49.2-52.2 tons of gold.

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Polyus Gold sold assets in Kazakhstan and Kirgizia

The largest Russian gold producer Polyus Gold closed the deal on a sale of assets in Kazakhstan and Kirgizia to a group of secret offshores, the company stated on Thursday. Polyus Gold wanted to sell Kazakhaltyn, which is on a balance of its affiliate, and an asset in Kirgizia to former shareholders of KazakhGold, the Asaubaev family, three times. Last time Polyus Gold wanted $385 million for the deal. But the purchaser has failed to find money.

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M. Prokhorov has left Polyus

The businessman has sold his stake in the gold mining company.
M. Prokhorov has sold almost 38% in Polyus Gold for $3.6 bln to the structures of the co-owner of Uralkalii, Z. Mutsoev and a former shareholder of the group “Wimm-Bill-Dann”, G. Yushvaev. Participants of the market think the buyers act in the interests of S. Kerimov that holds 40.2% of Polyus and thus avoiding making an offer to the minority shareholders. Onexim of M. Prokhorov says the funds from the sale of the package will go for his investment projects. Sources of Kommersant name one of the variants of investment could be the purchase of 10.5% of Rostelekom from K. Malofeev but the parties can’t agree on the price.

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Prokhorov sold 37.8% in Polyus Gold for $3.6 billion

Onexim Group of M. Prokhorov sold 18.5% in Polyus Gold International to Lizarazu Limited affiliated to the deputy of the Parliament Z. Mutsoyev for $1.77 billion, and 19.28% to Receza Limited to the former owner of Wimm-Bill-Dann G. Yushvayev for $1.846 billion. It means that Onexim sold 37.8% for $3.6 billion. Both businessmen act in favor of S. Kerimov owning 40.2% in Polyus Gold via Nafta Moscow. The transaction was performed in accordance with the demands of the British Panel on Takeovers and Mergers.

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In 2012, Russia produced 226 tons of gold

In 2012, Russia produced 226 tons of gold, by 7% more than in 2011, the chief of Gold producers Union of Russia S. Kashuba says. Own extraction and production were 222 tons, gold concentrate yield were 4 tons. Secondary production is 8.5 tons.
If global gold price remains high then Russia can annually increase gold production by 5% until 2020. Major growth in production is provided by Polyus Gold and Polymetal.

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Large golden ore deposit has been discovered in Yakutia

Geologists have discovered the Gora Rudnaya deposit at the Lebediny ore site in Yakutia, with prospected reserves of 200 tons of gold, the Ministry of Economy and Industrial Policy of the region reports referring to the First Vice Director of the State Geology Committee V. Kalashnikov.
Three years ago Yakutskgeologiya offered to start once more prospecting at the Lebediny ore site, hoping to discover golden ore objects non-traditional for this territory. The work was performed at the expense of the federal budget.

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Russia Govt is not against “Polyus” and “Polymetal” merging

The possible merger of Polyus Gold and Polymetal Int, which owns the Russian OAO “Polyus Gold” (PLZL) and OAO “Polymetal”, does not contravene the law. The Russian authorities are not about to prohibit the deal despite the formerly announced direction towards deoffshorization of the economy, the press-secretary of the head of the state, D.Peskov said.

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