Chinese stocks are closed for ERG – Benedikt Sobotka

MINEX FORUM | March 24, 2017
img0 Image: cnn.com Kazakhstan government-backed Eurasian Resources Group, which is seeking Chinese finance for four metals projects involving total investment of US$6 billion, has called on Beijing to open up China’s stock markets for foreign firms to raise funds, said scmp.com. The company, the world’s largest producer of ferrochrome – an intermediate material used to give ...

Alrosa expects diamonds sales decrease in the first quarter 2017

MINEX FORUM | March 23, 2017
img0 Image: aadiamonds.co.za Russian diamond miner Alrosa expects its first-quarter sales to be down 6% at $1.25-billion compared with a year ago, the state-controlled company said in a presentation for its investor day on Wednesday, miningweekly.com noted. Alrosa, the world’s largest producer of rough diamonds, plans to increase diamond output to 39.2-million carats in 2017 from 37.4-million ...

Nordgold agreed with Sberbank CIB about US$325 million seven-year debt

MINEX FORUM | March 23, 2017
img0 The gold producer Nordgold  announced that the Group has entered into a US$325 million seven-year debt facility with Sberbank CIB. Nordgold intends to use the proceeds to refinance its existing debt facility with Sberbank (approximately US$333 million). As at 31 December 2016, Nordgold’s total debt was US$861.6 million, while its net debt position was US$505.4 ...

Auriant Mining corrected deferred tax and increased net profit

MINEX FORUM | March 22, 2017
img0 Image: http://www.auriant.com Auriant Mining AB (publ.) publishes corrected Interim Report for financial year 2016. The changes were made in the deferred tax section for a year 2016. According to the new calculation, Income tax for the period decreased by MSEK 29.596 (US$ 3.481 m) to MSEK -11.860 (US$ -1.355 m). Net profit for the period increased correspondingly ...

Polyus sold Nezhdaninskoye gold deposit to a former managing director of Highland Gold Mining

MINEX FORUM | March 22, 2017
img0 Image: http://rabota.polyusgold.com The gold producer PJSC Polyus (MOEX — PLZL) announced that a 100% subsidiary of the Company, JSC Polyus, has signed an agreement for the sale of its 82.34% stake in a joint venture entity with Polymetal holding 100% of JSC South-Verkhoyansk Mining Company (“SVMC”). SVMC holds the mining and exploration license for the Nezhdaninskoye gold deposit in Yakutia, Russia. The stake will be sold ...