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