Gold mining companies Polyus Gold and Polymetal are creating a joint venture for development of Nezhdaninskoye deposit in Yakutiya, owned by Polyus Gold, according to companies’ joint press release.
On Wednesday 6th of January spot price of gold increased in London on the wave of news about of escalation of tensions at the Middle East and entered thermo-clear bomb test in the North Korea. Price of spot metal increased at the morning European trading by 0,6% till $1083,82 for troyounce .
Polymetal, the largest producer of silver in Russia and one of the leading gold miners, is planning to develop Oroch silver and gold deposit, situated in Severo-Evenky district of Magadan region in 2014, ore production is planned for 2015.
Minfin of RF proposes to double funds for precious metals procurement for GOKHRAN in 2015-2016. The draft law "About federal budget for 2015 and for planned period of 2016 and 2017", prepared by the Minfin of Russian Federation is discussing this question.
Production on the depositPavlik in Tenkynsk district will have an output 6-7 tons of precious metal annually.
Dmitry Medvedev signed an executive order on establishing the industry development fund. This was stated by Prime Minister during a meeting with Vice-Premiers on Tuesday.
The Russian Central Bank is the largest purchaser of gold in the world. Moreover, according to the results of present year, Russia may rank second in gold production and mining, leaving behind Australia, taking this position now.
Exchange prices for silver fell to the minimum values on Wednesday from June 19.