Polymetal secures offtake for Kyzyl concentrate

MINEX Forum | February 21, 2018
img0 LSE-listed Polymetal has secured an offtake agreement with one of its established trading partners for 50% of the forecast high-carbon concentrate production from the Kyzyl project, in north-eastern Kazakhstan, with an option to increase this to 100% of its yearly concentrate output. Polymetal plans to process low-carbon concentrate at the debottlenecked Amursk POX facility, in the far east of Russia, but ...

Uzbekistan intends to legalize cryptocurrencies this year

MINEX Forum | February 21, 2018
img0 By September 1, 2018, Uzbekistan intends to draft a bill on using e-currencies in the republic. A decree on it was signed by President Shavkat Mirziyoyev. The Central Bank, Information Technologies and Communications Ministry, Finance Ministry, Economy Ministry and other governmental agencies are charged to prepare their proposals regarding the bill. The cryptocurrency issue is a ...

“KAZ Minerals confirms it is currently evaluating the potential acquisition”

MINEX Forum | February 19, 2018
img0 Kazakhstan-focused miner KAZ Minerals (LN:KAZ) says it is looking to Russia’s remote north-east and evaluating taking a stake in the Baimskaya copper-gold project. KAZ made the comment on Friday, saying it was responding to speculation regarding Baimskaya. “KAZ Minerals confirms that it is currently evaluating the potential acquisition of a majority stake in the Baimskaya ...

New exploration licences will be sold at the action in Kyrgyzstan

MINEX Forum | February 19, 2018
img0 In March 2018 the State Committee of Industry, Energy and Subsoil Use of the Kyrgyz Republic will be organising actions and tenders for exploration of Gold, Coal, Iron Ore and Rare earth elements deposits. List of tender objects-2018 List of auction objects-2018 For more detailed information on the terms for participation in auctions and tenders, please ...

Tajik-Chinese joint gold mining venture resumes operations

MINEX Forum | February 14, 2018
img0 Tajik-Chinese Joint Venture (JV) Zarafshon (formerly Zervashan Gold Company), which is the largest gold mining company in Tajikistan, has resumed operations. “The government yesterday issued a decree, under which the company has resumed operations,” Nusratullo Davlatzoda, the head of the Tax Committee under the Government of Tajikistan, told reports in Dushanbe on February 7. According ...

Japan plans to open External Trade Organization office in Kazakhstan

MINEX Forum | February 14, 2018
img0 Chairman of the board of Kazakh Invest national company Saparbek Tuykbayev and Ambassador of Japan to Kazakhstan Ichiro Kawabata discussed bilateral investment cooperation and improving business environment in Kazakhstan, the Ministry for Investments and Development of Kazakhstan said. They also discussed upcoming meeting of the Kazakh-Japanese government and private sector commission  on economic cooperation, which ...

Chaarat appoints new COO

MINEX Forum | February 14, 2018
img0 Aim-quoted Chaarat Gold has appointed Peter Carter as COO. The company, which is developing the Chaarat project in Kyrgyz Republic, said on Wednesday that Carter had more than 30 years’ experience in openpit engineering, mine management and project development. This includes leadership roles in the construction and operation of the Kumtor and Boroo gold mines, in the Kyrgyz Republic and Mongolia, and the fast-track development of the Karma heap leach project in Burkina Faso. ...

KAZAKHSTAN’S COAL INDUSTRY IS MOVING TOWARDS ACCELERATED DIVERSIFICATION

MINEX Forum | February 14, 2018
img0 Kazakhstan’s coal industry is moving towards accelerated diversification. The task is to provide domestic and foreign markets with fine fuel in compliance with international standards. According to Energy Ministry, Kazakhstan produced more than 106 million tonnes of coal in 2017, 29 million tonnes of which were exported. Kazakhstan also exports the coal to the countries ...

Cameco’s profit beat estimates on improved uranium prices, cost-cutting drive

MINEX Forum | February 12, 2018
img0 The last of 845 employees facing a 10-month layoff at two uranium operations in northern Saskatchewan worked their last shift the weekend of Feb. 2nd. (Image: McArthur River mine Courtesy of Cameco.)  Canada’s top uranium producer Cameco (TSX:CCO) (NYSE:CCJ) injected some optimism in the depressed yellow powder market by posting a better-than-expected quarterly profit, on the ...