Industry News

07 Oct 2016
Renova to invest 15 billion rubles in the north-Kamchatka gold zone in 2017-2020

GK Renova plans to invest about 15 billion rubles in the development of gold mining business in the north of Kamchatka in 2017-2020, while the investments in 2016 will amount 4 billion rubles, said Viktor Radko, General Director of AO Zoloto Kamchatki, at the MINEX-2016 forum. 

07 Oct 2016
Priisk Tsipikansky won the Gulinga gold for 126 million rubles

OOO Priisk Tsipikansky won the auction on the site of placer gold in the basin of the Gulinga creek in the Bauntovsky Evenki District of Buryatia, offering 126.324 million rubles, 13 times more than the starting price, according to the auction information. 

06 Oct 2016
Vitaly Nesis: large investors are back to gold

Vitaly Nesis, Polymetal’s Chief Executive, in an interview with economic observer Alexey Bobrovsky, declared return of interest to gold from both large investors and small speculators.

05 Oct 2016
Gold showed the strongest drop in nearly three years on Tuesday

The gold prices showed the strongest drop in nearly three years on Tuesday, on a stronger US dollar and increased expectations of a Federal Reserve rate rise by year end, prompted investors to sell this precious metal. December gold futures at СОМЕХ closed down by 3.3% at 1,266.3 dollars per troy ounce.

05 Oct 2016
Kopy and Vysochaishy to invest $2 million in the Krasny project

Swedish Kopy Goldfields and OAO  Vysochaishy (GV Gold) have agreed to invest USD 1,960,000 into the Krasny common project in the Irkutsk region, according to the statement of the Swedish company. 

04 Oct 2016
Gold & Precious Metals Summit to be held in early December in Shanghai

China summit on gold and precious metals is scheduled to be held in Shanghai during 7-8 December, 2016.

04 Oct 2016
Kolyma to increase gold production up to 28-29 tons in 2017

The Magadan region is going to increase gold production up to 28-29 tons in 2017 from 27 tons previously planned for this year, according to Vladimir Pecheny, governor of the region. “As for the prospects, it is based on real calculations and estimations.

03 Oct 2016
Finance Ministry cuts purchases of precious metals and stones to State Repository

The Russian Finance Ministry proposed to amend the federal budget estimate for 2016, according to which the acquisition amount of precious metals and stones to the Russian State Repository for Precious Metals is limited to 5.018 billion rubles, according to the draft of a bill published on the federal portal of legal acts.