Said Kerimov decreased his stake in Polyus to 82%

MINEX FORUM | August 3, 2017
img0 PJSC Polyus, the world’s 8th largest gold producer with the second largest reserve base and the lowest cost position among the top-10 gold mining companies globally, announced the final results of the offering of shares and global depositary shares (“GDSs”) both in Russia through the facilities of the Moscow Stock Exchange and outside Russia on the ...

Uranium under pressure

MINEX FORUM | July 14, 2017
img0 Uranium was the glaring exception amid a broad-based rally in metals and minerals in 2016. The price of U3O8 fell 41% in 2016 with the industry tracker UxC’s broker average price hitting 12-year lows below $18 per pound in November, mining.com notes. After top supplier Kazakhstan announced in the second week of January that it’s cutting output by 5.2 ...

Berkeley Energia decreased the CAPEX of its uranium Salamanca mine by 1% to €82.3 million

MINEX FORUM | July 6, 2017
img0 The capital cost for the construction of Berkeley Energia’s Salamanca mine has reduced to € 82.3 million (US$ 93.8 million), a 1% reduction over previous estimates. The estimate for bringing the Retortillo deposit into production was prepared as part of the Front-End Engineering and Design (“FEED”) by Amec Foster Wheeler Group, one of the world’s largest engineering groups. The ...

Polyus is about to increase production to 2.8 moz in 2019

MINEX FORUM | June 6, 2017
img0 PJSC Polyus (MOEX — PLZL), the largest gold producer in Russia, announces its production guidance for 2017–2019 together with a dividend update. The Company reiterates its production guidance for 2017 to be in the range of 2.075–2.125 moz. The group expects total gold output to increase further to 2.35–2.40moz in 2018 and 2.8 moz in 2019. The Board of Directors of the Company (the «Board») has considered and preliminarily ...

GEUS recognized the Dundas Province in Greenland as a very significant ilmenite province

MINEX FORUM | May 24, 2017
img0 A recent study undertaken by the Geological Survey of Denmark and Greenland (‘GEUS’) has confirmed that the region in which the Bluejay Mining’s 100% owned Pituffik Titanium Project in Greenland (‘Pituffik’) is located, represents a very significant ilmenite province (‘the Dundas Province’). Importantly, the province level study, which covered an area of 300km x 150km, ...