Market news
23 october 2009
POLYUS and ALROSA are interested in developing Dzheruy deposit site in KirgiziaEight companies interested in developing Dzheruy lode gold deposit in Kirgizia applied to the government of the country and the State Agency for Geology and Mineral Resources of the republic, informed the liaison office of the Agency.
23 october 2009
Petropavlovsk increased gold output in January –September by 29% to 346 thousand ouncesPetropavlovsk Group increased gold output in January –September by 29% to 346 thousand ounces. According to the information provided by Petropavlovsk, the company remains confident of achieving the target of increasing gold output to 500 thousand ounces in 2009.
23 october 2009
Gold output in Russia increased in January – September by 8.9%According to the information of Rosstat, gold output in Russia increased in January – September by 8.9% compared to a similar period of the previous year.
23 october 2009
Petropavlovsk reached an agreement with the Chinese Xuan Yuan about a joint project at Far EastPetropavlovsk PLC (former Peter Hambro Mining) signed an agreement on cooperation with the Chinese Xuan Yuan Industrial Development Co. Ltd. (XY-Group) providing for joint development of Kimkano-Sutarskoye iron ore deposit at Far East. As stated by Petropavlovsk, XY-Group is to provide at least 70% of the funds needed for implementation of the first phase of the project ($375 million).
23 october 2009
Polyus submitted to the State Committee for Subsoil Usage (GKZ) an application to increase the reserves of Nezdaninskoye deposit by 32%“Polyus Zoloto” OJSC (RTS: PLZL) submitted to the State Committee for Subsoil Usage an application to increase the reserves of Nezdaninskoye deposit in Yakutia by 151.6 tons, as the company informed Interfax.
23 october 2009
The Russian Union of gold miners expects gold production in Russia in 2009 to reach 205 tonsThe Russian Union of gold miners expects gold production in Russia in 2009 to reach 205 tons, which is 11% more than in 2008, informs the Union.
23 october 2009
KazakhGold delays publication of the financial reports for the first half of the year due to management changeKazakhGold delays publication of the financial reports for the first half of the year due, as stated in the memo of the company.
