Polyus Gold

General Director of Polyus Gold Int. Herman Pikhoya leaves the company

The General Director of Polyus Gold Int. Herman Pikhoya leaves the company, though will remain the General Director until the company founds a new one, Polyus Gold reports.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

P. Grachyov from Nafta Moscow has joined the Board of Directors of Polyus Gold

P. Grachyov from Nafta Moscow, the company of S. Kerimov has joined the Board of Directors of Polyus Gold International Ltd, as an independent director.
Translated by Nadezhda Poltoratskaya 
Source:  http://www.oilru.com/news/386911/

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Polyus Gold starts to test ball mill at the Natalkinskoye gold deposit

Polyus Gold Int (it unites assets of Polyus Gold) has launched the largest ball mill in Russia for the processing of the Natalkinskoye gold deposit’s ore at the Matrosov mine in the Magadan region, a representative of the enterprise reported.
The launch of the first stage of the plant, which will process the Natalkinskoye gold deposit’s ore, is scheduled for 2014 that will enable to provide the annual increase of the gold production in the region to 10 tons. In case if the company decides to construct the second and the third stages at the enterprise, the processing volume may increase to 40 million tons of ore per year with the production of about 50 tons of gold.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In the first 9 months, Polyus increased gold production by 6%

On the results of the first nine months of the current year, Polyus Gold Int increased the gold production by 6% as compared with the same period of 2012 to 1.185 million ounces (36.858 tons), the company reports.
In the third quarter, Polyus produced 466 thousand ounces of precious metal that is by 4% more than in the same period of the previous year. The company confirmed the production forecast in the amount of $1.59-1.68 billion for 2013.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In January – July, Russia increased gold production by 12%

The Russian Gold Producers Union reports that the Russian refining plants increased gold production by 12.2% to 122.041 tons in January – July, mostly at the expense of enlargement in secondary refining of gold scrap metal. Gold extraction from subsoil increased by 8.9% to 102.44 tons. Secondary production doubled to 7.91 tons, and by-production declined by 0.1% to 9.18 tons. Golden concentrate production tripled.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Nordgold reaches out to South America – the company to work in French Guiana

Nordgold of Alexei Mordashov may become the first Russia gold producer in South America. The company received an option for joint with Canadian Columbus Gold development of the large deposit Montagne d'Or in French Guiana. Experts note that Nordgold has to resort to overseas expansion because the resource base in Russian and the CIS states has been distributed among other players and potential of the reserves increase at Nordgold’s projects is small.
The gold-mining company Nordgold, controlled by Alexei Mordashov, has received a three-year option from Canadian Columbus Gold Corp for purchase of 50.01% of the company Sotrapmag Sas’ shares, which owns a license for the Montagne d'Or deposit in French Guiana (South America). The predicted resources of Montagne d'Or are 4.15 million ounces of gold, the metal content is 2.2 g per ton.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Why Polyus’ shares hold up better that others

The shares of Polyus Gold Int, whose main shareholder is the businessman Suleiman Kerimov, don’t fall: the company’s securities managed not to react to the gold price decrease, in spite of its competitors.
Analysts, asked by the agency Prime, consider that the price of shares of the largest Russian producer of precious metal almost have not changed from the beginning of the year due to an unofficial buy back.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Polyus Gold has been sold in domestic surroundings – Zelimkhan Mutsoev’s share was bought by his brother

The Deputy Zelimkhan Mutsoev has finally disposed of his assets to stay in the State Duma. His package in the amount of 18.5% of Polyus Gold’s shares was transferred to be under the control of Mutsoev’s brother – Amirkhan Mori. In June, Zelimkhan Mutsoev sold 6.43% of his shares to Uralkaliy under a buy-back program. The ex-owner could receive $1.86 billion for his share in Polyius Gold that is by $60 million more than he paid for it in February, but analysts think that Mutsoev didn’t aim to earn.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Polyus reduces the value of its assets – the company to write off up to $480 million

Following other gold-mining companies, suffering from the metal prices fall and have written off tens of billions of dollars, Polyus Gold has announced the forthcoming depreciation of its assets. The main write-off will concern one of the largest Russian gold deposits – the Nezhdaninskoye in Yakutia, which has been problem for Polyus for a long time.
Yesterday, the gold-mining company Polyus Gold announced the forthcoming non-monetary write-off in the amount of $460-480 million by results of the first six months because of the gold price fall in this period, which, as the company expects, will continue. About $320 million of write-off will concern the Nezhdaninskoye deposit in Yakutia (estimated resources are 14-20 million ounces) and the Degdekanskoye deposit in the Magadan region (3 million ounces), which are at the exploration stage. $140 million more of write-off will concern the developing Yakut deposit Kuranakh. A source, who is familiar with the company’s situation, notes the positive factor – there won’t be write-off on other acting assets and the development project of the Natalkinskoye deposit (Magadan).

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer