Polymetal buys remaining 20% stake in Saum deposit in Russia

MINEX Forum | October 16, 2018
img0 Precious metals mining company Polymetal International has purchased the remaining 20% stake in Saum Mining Company, which holds the licence for the Saum polymetallic deposit in Russia. The transaction, which comes after a successful exploration drilling campaign at the property, increases Polymetal’s interest in the Saum deposit to 100%. With resources of 435Koz of gold ...

Polymetal upgrades resource estimate at Prognoz silver deposit in Russia

MINEX Forum | October 16, 2018
img0 Polymetal International said it had upgraded the mineral resource estimate at its Prognoz silver deposit in Russia. The fresh estimate amounted to 256m ounces of silver equivalent at 789 grams per tonne. ‘In-fill drilling results exceeded our expectations and strengthened our belief that Prognoz may succeed Dukat as one of the largest primary silver deposits ...

Relief for Rusal, but aluminium’s political risks remain

MINEX Forum | September 20, 2018
img0 The United States has thrown Russian aluminium company Rusal a lifeline by loosening sanctions imposed on the company in April. Critically, the U.S. Treasury has tweaked its sanctions to allow Rusal to enter into new contracts with existing customers. This is good news for the Russian company, which has been shunned by buyers negotiating 2019 shipments. It’s also ...

Nordgold launches new Russia mine

MINEX Forum | September 13, 2018
img0 Gold miner Nordgold has formally launched its third mine – the new Gross operation in Yakutia, Russia, which will turn the company into an one-million-ounce a year producer. The Gross mine will operate for 17 years and is expected to add 200 000 oz/y of to Nordgold’s production profile. Construction of the mine began in ...

Rusal’s August aluminium exports up 7% from July – Ifax

MINEX Forum | September 6, 2018
img0 Russian aluminium producer Rusal, under US sanctions since April, increased its aluminium exports by 7% in August compared to the previous month, Interfax news agency said. Rusal, the world’s second-largest aluminium producer, saw its exports and supply chain crippled after Washington put the company and co-owner Oleg Deripaska on a blacklist, seeking to punish Russia ...

Kimberley Process visits Russia with a review

MINEX Forum | September 6, 2018
img0 The Kimberley Process (KP) delegation conducted a review visit to Russia on August 25-30 to check the system of mining, accounting, implementation and control of operations with rough diamonds, and to assess their compliance with the minimum requirements of the KP Certification Scheme. The delegation was led by Angola and included representatives of Botswana, EU, ...

Putin urges Russia to boost coal, energy exports

MINEX Forum | August 30, 2018
img0 President Vladimir Putin said on Monday that Russian energy companies should expand their export infrastructure and seek new markets for their products, including coal, with China seen as particularly important. Speaking at a meeting with government officials and top managers of energy companies, Putin also said rivalry on global energy markets has heated up. “The ...