Industry News

20 Oct 2016
Russian banks are buying gold for resale in China

Russian banks have sharply increased gold buying. In January-September, reserves of the precious metal in their vaults shot up nearly tripled from 32 to 87 tons, RIA Novosti reported with reference to the credit reporting companies on the Central Bank website.

18 Oct 2016
International consortium to develop Klyuchevskoye field

A multilateral agreement of intent on the joint implementation of the Klyuchevskoye field development project (Zabaykalsky Krai) with participation of investors from Brazil, Russia, India, China and South Africa. 

18 Oct 2016
ARMZ to extract uranium from gold

Atomredmetzoloto (ARMZ) plans to start gold production in the Elkon uranium ore district of Yakutia, said Vyacheslav Galaktionov, general director of AO Elkonsky GMK, part of the holding (project operator).

18 Oct 2016
Tajikistan to increase gold production 4 times by 2021

Subsoil users in Tajikistan could increase gold production 4 times by 2021 compared with 2015 - up to 17 tons, according to the information of the local government.

14 Oct 2016
RF Government Decree of 10.07.2016 N 1017

The lists of industrial facilities of refining organizations and institutions engaged in the sorting, primary classification and initial evaluation of precious stones are expanded.

13 Oct 2016
Commerzbank: Gold prices yesterday dropped below $1,250 an ounce

The gold prices yesterday briefly dropped below $1,250 an ounce, against strengthening US dollar, but then recovered and this morning were moving around the level of $1,260 an ounce, reflecting weak macroeconomic data coming out of China. 

13 Oct 2016
Gokhran to buy precious metals and stones for State Fund at 6 billion rubles next year. - draft of federal budget

The State Repository for Precious Metals (Gokhran) will buy precious metals and stones for the State Fund at up to 6 billion rubles in 2017, follows from the draft budget of the Russian Federation, published by the Ministry of Finance.

13 Oct 2016
The Ministry of Natural Resources plans to stimulate the involvement of start-up private companies in exploration of gold deposits

Head of Ministry of Natural Resources Sergey Donskoy told Izvestia about the plans of the state to promote and support the gold mining industry, in particular, on the possibility of tax incentives and creation of venture capital funds to increase the geological exploration (GE) of gold in Russia.