Russia to compete with India for the polished diamonds market

MINEX FORUM | September 6, 2017
img0 Russia’s government wants state-owned Alrosa (MCX:ALRS) to offer more favorable terms to local cutters so they are able to compete in a market that’s dominated by Indian manufacturers, said mining.com with reference to Bloomberg. In an interview with Bloomberg, Deputy Finance Minister Alexey Moiseev said that the Putin administration would like for Alrosa -which is the ...

Banks are the main gold byuers in Russia

MINEX FORUM | September 6, 2017
img0 Russia’s top goldproducer Polyus expects its capital expenditure (capex) to decline over the next two years from around $800 million in 2017 as ramp up costs for a new gold mine fall away, CEO Pavel Grachev said. Polyus, controlled by the family of Russian tycoon Suleiman Kerimov, started commissioning its Natalka mine in the country’s Far East, a project expected to help the firm increase its gold output by a ...

World Cold Council issues gold back ETF analysis

MINEX FORUM | September 6, 2017
img0 World Gold Council issued monthly analysis of gold-backed ETFs and similar products with detailed information and insight on global trends of gold investment demand through ETFs. Regional fund flows North American ETFs drove global inflows in August as investors added 27.8 tonnes ($1.3bn, 2.6% AUM) Flows in Europe were mixed with a net increase of 6.4t ...