Russian fund plans a $1bn mining venture with China Gold

MINEX Forum | November 16, 2017
img0 (Bloomberg) — Russia’s state-owned Far East Development Fund is in talks to create a $1 billion joint venture to invest in the country’s mining industry with China National Gold Group, a government controlled producer of the precious metal. “We and China Gold will create an attractive financial platform that private investors can take part in and make ...

Euro Sun awarded the BFS contract to SRK Consulting

MINEX FORUM | September 14, 2017
img0 Euro Sun Mining Inc. (TSX:ESM) reports that it has awarded the Bankable Feasibility Study contract for its Rovina Valley Gold and Copper Project to SRK Consulting (Canada) Inc. (SRK) and Ausenco Engineering Canada Inc. (Ausenco). SRK has been selected to provide expertise in geology, mining and financial modeling, and will also oversee the geochemical and geotechnical ...

Eurasia Mining is in offtake negotiations from Monchetundra mine

MINEX FORUM | September 5, 2017
img0 Eurasia, the platinum, palladium, iridium, rhodium and gold production and development company, reports progress towards submission of the production license application for its Monchetundra Project, following the issue of the discovery certificate for the project’s 1.9 million ounce palladium equivalent (platinum and palladium) Reserves and Resources, announced on 17 July 2017. Highlights: Monchetundra Project All ...

Mechel net profits down 40% in the first half of 2017

MINEX FORUM | August 23, 2017
img0 Mechel PAO (MOEX: MTLR, NYSE: MTL), a leading Russian mining and steel group, announces financial results for the 1H2017.   Mechel PAO’s Chief Executive Officer Oleg Korzhov commented: “The company’s 1H2017 results demonstrated a substantial improvement year-on-year. This became possible due to a positive dynamics in the coking coal market, significant diversification of our steel ...

Swedish companies create 5G technology for mine communication

MINEX FORUM | August 23, 2017
img0 A Swedish research project has showcased that by applying the latest technology within communication and automation, underground mines can become both more efficient and safer. In the PIMM project, Boliden, Ericsson, Telia, Volvo CE, ABB, RISE SICS and LTU have all contributed with their advanced technology and knowledge within digitalization and automation. The companies and ...

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 ...