ALROSA Launches Digital Tender for Large Rough Diamonds

Anastasia Bogdanova | March 27, 2020
img0 MOSCOW, March 25, 2020 /PRNewswire/ — ALROSA has launched a digital tender for special size rough diamonds (over 10.8 carats). It allows customers to purchase stones despite current travelling restrictions imposed between countries due to the COVID-19 pandemic. The auction takes place between March 23 and April 6.  Due to the global situation, the company decided to cancel the upcoming ...

Russian tycoon buys 49% of Elga coal project, talks to Mechel on 51%

Anastasia Bogdanova | March 23, 2020
img0 MOSCOW – Russian businessman Albert Avdolyan has reached an agreement to buy a 49% stake in the major Elga coal project in Russia from Russian lender Gazprombank, the bank said in a statement on Monday. Avdolyan’s company A-Property is still in talks to buy the remaining 51% in the project from Russian steel and coal producer Mechel. ...

Nikolay Gorokhov appointed as head of ALROSA’s Vladivostok branch

Anastasia Bogdanova | March 23, 2020
img0 March 20, 2020 – ALROSA announces that Nikolay Gorokhov was appointed as head of the company’s branch in Vladivostok after he got first place in the internal competition to fill this vacancy. Nikolay Gorokhov replaced Semyon Lavrentiev, who moved to head the Diamond Sorting Center in Mirny, Yakutia. Nikolay Gorokhov started working in ALROSA’s Yakutsk ...

Petropavlovsk finds potential buyer for IRC stake

Anastasia Bogdanova | March 19, 2020
img0 LSE-listed miner Petropavlovsk has reached a preliminary agreement with Liechtenstein-incorporated investment company Stocken Board, setting out terms on which the company would sell a 29.9% shareholding of its 31.1% holding in Hong Kong-based miner IRC. Stocken would buy the IRC shares for $10-million, which Petropavlovsk CEO Pavel Maslovskiy said on Wednesday was a “fair and reasonable value”, ...

Altyn takes deliver of key equipment for Sekisovskoye gold project Kazakhstan

Anastasia Bogdanova | March 17, 2020
img0 Mining company Altyn said it had received deliver of more mining equipment at its Sekisovskoye gold project Kazakhstan and that production there was gradually increasing. Major items delivered so far in 2020 included a front-end loader, dump truck and material handling trucks. More equipment was expected to be delivered in May, including drilling rigs. 'With ...

Europe’s alloy demand drop yet to hit term contracts

MINEX Forum | March 16, 2020
img0 European consumers are still steadily accepting material procured on long-term contracts, despite challenging economic conditions that have significantly depleted spot demand and are weighing on prompt prices. The number of spot deals concluded since late January ahead of the Chinese lunar new year holiday week have dwindled in Europe, with most market participants looking to ...

Russia’s Alrosa relaxes payment terms for diamond contracts amid coronavirus

Anastasia Bogdanova | March 13, 2020
img0 MOSCOW, March 12 (Reuters) – Russian diamond miner Alrosa ALRS.MM will relax payment terms for long-term customers in its March trade session starting this week, it said on Thursday, as diamond sales fall due to the uncertainty caused by the coronavirus outbreak. Sales by state-controlled Alrosa, the world’s largest producer of rough diamonds in carat terms, fell in February ...

Nordgold increases funding for employee development, well-being

Anastasia Bogdanova | March 13, 2020
img0 Gold producer Nord Gold (Nordgold) has increased funding for its employee development and wellbeing programmes by more than 17% to about $9.9-million for the 2020 financial year, from $8.2-million in the prior financial year. The Nordgold employee development programme incorporates the company’s training and development initiatives in specific areas of knowledge or geographies. In 2019, ...

“Mining in Kazakhstan. Roadshow London 2020” forum took place in London

Anastasia Bogdanova | March 9, 2020
img0 On February 27, the “Mining in Kazakhstan. Roadshow London 2020″ forum was held in London, UK. The event was dedicated to the exploration and mining sectors of Kazakhstan, and is part of the Kazakhstan delegation’s global investment tour – Investment Roadshow 2020. The aim of the forum was to attract investment in the mining industry ...