China is set for specific transactions on entering the Russian gold projects, particularly in the Far East, said to Izvestia the head of the Union of Gold Producers of Russia Sergey Kashuba.
OOO Megradzor Gold plans to complete construction of the gold recovery plant on Meghradzor gold mine by the end of 2016, said General Director Vardan Markaryan.
Gold has surged in 2016 against a backdrop of political uncertainty and consistently low interest rates, but it has not broken past its 2011 high.
Russia may become the world's leading gold producer by 2030 with an annual capacity of 400 tons, according to Boris Mikhailov, adviser of the general director of AO Rosgeologiya, speaking at the 35th International Geological Congress in Cape Town.
The Ministry for Development of Russian Far East and UK Polyus have signed a grant agreement on the construction of mining and processing enterprise on the basis of Natalka deposit in the Magadan region, according to RIA Novosti report from the signing ceremony.
Tarynskaya ZRK (TZK, a part of AO Vysochayshiy) signed an investment agreement on the Eastern economic forum with the Ministry of Development of the Far East for the construction of mining and processing enterprise Taryn at the gold deposit Drazhnoye, according to the RIA Novosti report from the signing ceremony.
Gold prices fell to their lowest level in more than two months Wednesday, amid growing expectations that the Federal Reserve is getting ready to raise interest rates in coming months.
Global Palladium Investment Fund, created by the Norilsk Nickel in February this year, could buy about 6 tonnes of palladium by the end of 2016, said to Izvestia Sergey Malyshev, the company’s CFO.