Russia on track to become world’s top gold producer by 2029 – report

Anastasia Bogdanova | August 13, 2020
img0 Despite some disruptions caused by the covid-19 pandemic, Russia is expected to surpass China as the world’s top gold producer by 2029, achieving average annual growth of 3.7% y-o-y between 2020 and 2029. This forecast was presented in a report by Fitch Solutions Country Risk & Industry Research, whose experts believe that in the short-to-medium ...

Uzbekistan ramping up gold production at Navoi & Almalyk to over 5 Moz/y by 2026

MINEX Forum | June 1, 2020
img0 Often forgotten on lists of major gold mining enterprises as they are state-owned by Uzbekistan, Navoi Mining and Metallurgical Combine (NMMC) and Almalyk Mining and Metallurgical Complex (Almalyk MMC) are set to see their joint production exceed 5 Moz a year by 2026, an unprecedented figure, with Almalyk’s copper production also to reach 400,000 t/y. NMMC’s ...

Russia ramps up gold production, adding to country’s huge bullion reserves

MINEX Forum | May 26, 2020
img0 Gold output in Russia continues to grow, increasing by 9.26 percent in 2019 year-on-year, the country’s Ministry of Finance said on Monday. The volume of bullion production reached 343,54 tons compared with 314,42 tons in 2018. Production for the period included over 286 tons of mined gold, the ministry reported. Accompanying mining surged 23.8 percent to 19 ...

Kinross Gold withdraws 2020 guidance

MINEX Forum | April 3, 2020
img0 Kinross Gold (TSX:K; NYSE:KGC) announced on Wednesday that it is withdrawing its full-year 2020 guidance, although the coronavirus outbreak has had no material impacts on the company’s operations to date. For the first quarter, Kinross expects gold sales to be slightly lower than production due to the impacts of the global crisis on the timing of sales ...

Trans-Siberian Gold announces its production update at the Asacha Gold Mine

Anastasia Bogdanova | January 29, 2020
img0 Trans-Siberian Gold plc (TSG.LN), a low cost, high-grade gold producer in Russia, announces its production update at the Asacha Gold Mine for the three months ended 31 December 2019 (“Q4” or the “Period”) and for the 12 months ended 31 December 2019 (“FY19”). Q4 Highlights Gold revenues of $18.3 million* (Q4 2018: $20.1million) Average realised ...

Gold miners in Russia’s far east break 40-year production record – RT report

MINEX Forum | November 25, 2019
img0 Miners in Russia’s far eastern region of Magadan have mined over 40 tonnes of gold since the beginning of 2019, government-controlled RT news site reports. According to the information, which cites local authorities, the figure implies that the miners have broken a 40-year production record. The report also states that they may reach 50 tonnes ...

Trans-Siberian rides rising tide to record revenue

MINEX Forum | August 2, 2019
img0 Trans-Siberian said it produced 9,260oz in the June quarter, and 26,456oz of silver, at Asacha in Kamchatka, a peninsula in far east Russia. For the first half gold production grew 26% year-on-year to 21,889oz, and silver production increased 42% to 59,787oz. Total revenues for the second quarter increased 14.7% year-on-year to $13.8 million. For the ...

Turkey gold output may reach 50 tons

MINEX Forum | July 9, 2019
img0 Turkey’s annual gold production “may easily reach 50 tons within the next two-three years, thanks to new investment projects,” the head of the Turkish Gold Miners Association has said. The country’s gold production, which was 22 tons in 2017, rose to 27 tons in 2018, Hasan Yücel said in a statement. He noted that Turkey produced a total of 302 tons of gold from ...

Highland Gold targeting higher production in 2019

MINEX Forum | April 15, 2019
img0 Russian gold miner Highland Gold on Friday posted profit of $56.08-million for 2018, compared with $65.86-million in 2017, as its revenue declined on a slight dip in production. The mining company generated $311.15-million in revenue, compared with $316.68-million, while earnings before interest, taxes, depreciation and amortisation came to $153.06-million, from $155.28-million in 2017. Total production ...

Dundee’s Chelopech Bulgaria mine exceeds 2018 production guidance

MINEX Forum | January 14, 2019
img0 Dundee Precious Metals’ Chelopech mine and smelter, in Bulgaria, achieved another record year of gold production, at 201 100 oz, in 2018, exceeding the company’s guidance of 190 000 oz to 200 000 oz. Moreover, copper production of 36.7-million pounds was in line with guidance of 35-million to 38-million pounds. Chelopech’s production performance was attributed ...

Gold production to grow in the next four years: report

MINEX Forum | November 27, 2018
img0 A report by Fitch Solutions states that the period 2018-2022 is seeing a growth in gold production because slightly higher prices and stronger company financials are encouraging greater mine investment. “We forecast global gold production to increase from 104moz in 2018 to 115moz by 2022, averaging 2.6% annual growth,” the document reads.”We expect gold prices ...