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Rosneft says EU sanctions aim to favour rivals

By: Reuters     13th December 2017 Russian energy group Rosneft told the Luxembourg-based European General Court on Wednesday that European Union sanctions on Russia aimed to undermine its position on global energy markets and favoured its competitors. State-controlled Rosneft is challenging the EU sanctions, imposed in 2014 and... 

Russian Jan to Aug gold output at 193.58 t

By: Reuters     5th December 2017 Russia produced 193.58 t of gold in the first eight months of 2017, up from 179.73 t in the same period last year, the Finance Ministry said in a statement on Tuesday. Production for the period included 158.13 t of mined gold compared with 147.64 t a year ago. 

Russia's 51-ct diamond named for Romanovs fails to sell

By: Bloomberg     1st December 2017 The most expensive diamond ever polished in Russia, named Dynasty after the Romanov-era Imperial Court, failed to sell in an auction. Alrosa said it didn’t receive a high enough offer for the 51.4-carat gem in a November 29 online auction. The stone has the best so-called triple excellence... 

Higher coal prices help Russia's Mechel swing to Q3 net profit

By: Reuters     28th November 2017 Russian coal and steel producer Mechel said on Tuesday higher prices for its products had helped it swing into a net profit in the third quarter after a loss a year earlier. Higher coal prices has been supporting Mechel, which borrowed heavily before Russia’s economic crisis took hold in 2014... 

Russian billionaire charged in France with money laundering

By: Bloomberg     23rd November 2017 Suleiman Kerimov, a Russian billionaire and senator, was charged with laundering gains from tax evasion in Nice and prohibited from leaving the region. Kerimov, whose family controls Russia’s biggest gold producer, Polyus PJSC, is required to surrender his passport and post €5-million bail, Nice... 

Metals billionaire to win whether electric cars boom or bust

By: Bloomberg     22nd November 2017 There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon this year. One is higher prices for nickel used in batteries as metals traders bet electric vehicles are the future of transportation. The other is a... 

Russia's VTB Capital aims to double gold sales to China in 2018

By: Reuters     21st November 2017 Russia's VTB Capital, one of Russia's biggest gold traders, aims to more than double sales of the precious metal to China next year, its global commodities chief said, after import curbs forced it to cut its target for this year. The investment banking unit of Russia's No.2 lender VTB, VTB... 

Nornickel sees capex rising by 2019-2020

By: Reuters     20th November 2017 Russia's Norilsk Nickel plans to increase capital expenditure to an average of $2.3-billion to $2.5-billion a year in 2019 and 2020 from about $2-billion in 2018 due to an environmental project and infrastructure modernisation, it said on Monday. Nornickel, part-owned by Russian businessman... 

Alrosa Q3 net profit halves on losses from flooded mine

By: Reuters     17th November 2017 Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine. The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir. 

Highland Gold appoints COO

By: Creamer Media Reporter      9th November 2017 Russian gold miner Highland Gold has appointed Anton Kim as first deputy CEO of its Moscow-based management company, Russdragmet. He will serve as Highland Gold’s COO and will be responsible for overseeing day-to-day operations at the company's production and development assets. 

Brent oil holds near two-year high as Saudi Prince backs Opec cuts

By: Bloomberg     27th October 2017 Brent oil held gains near the highest level in more than two years as Saudi Arabia’s Crown Prince Mohammed bin Salman backed the extension of Opec-led output cuts. Futures were little changed near $60 a barrel in London, up 2.6% for the week. The prince said Thursday that “of course” he wanted to... 

Obama administration's decision on uranium sale probed by House

By: Bloomberg     25th October 2017 US House committees are investigating why former President Barack Obama’s administration allowed a Russian-backed company to purchase American uranium mines in 2010. The House Intelligence and Oversight panels will look into the matter, Devin Nunes, a California Republican who is chairperson of... 

Open Mineral Exchange revolutionises commodity trading through innovative online platform 

By: Henry Lazenby     4th October 2017 A group of former traders at commodity giant Glencore has created an innovative new cloud-based mineral exchange to make it easier for producers and users to trade physical commodities – cutting out the often costly middle man. “We are reinventing the industry,” Open Mineral Exchange (OME) COO... 

Otkritie bank gets stake in Polymetal

By: Reuters     3rd October 2017 Russia's Otkritie bank has become a shareholder in Russian gold and silver producer Polymetal, the bank's MD Alexander Dmitriev said on Tuesday. The bank owns 7.56% in Polymetal and has no plans to sell the stake, Dmitriev added. He did not elaborate on how the bank had become a shareholder of... 

Glasenberg emerges from Rosneft flip with oil deal and medal

By: Bloomberg     12th September 2017 Nine months after surprising the world with an $11-billion venture to buy a stake in Russia’s state oil company, Glencore is selling most of it and emerging from the deal with a valuable crude supply contract and political ties in Moscow burnished. The companies announced on Friday that the... 

Russia plans gem reform to compete with India's million workers

By: Bloomberg     6th September 2017 Russia wants its biggest diamond miner to work more closely with the country’s top gem cutters so the industry can better compete in a market that’s dominated by Indian manufacturers. As part of a plan to boost the competitiveness of Russian diamonds, the government wants  Alrosa PJSC to offer... 

Rusal says prices second tranche of its Panda bonds

By: Reuters     1st September 2017 Russian aluminium giant Rusal said on Friday the second tranche of its Panda bonds with the principal of 500-million yuan had been priced, with a tenor of 2+1 years and a coupon rate of 5.5% per year. The proposed offering of the Panda bonds is expected to be completed before Sept. 5, 2017, the... 

Strong financials keep Polyus on track to meet production guidance

By: Samantha Herbst     14th August 2017 Following positive operational and financial progress during the first half of 2017, London- and Moscow-listed Polyus remains on track to meet its full-year production guidance of between 2.08-million ounces and 2.13-million ounces. 

Alrosa says 2017 output target unchanged despite accident - Ifax

By: Reuters     14th August 2017 Russian state-controlled diamond miner Alrosa's 2017 production plans remain unchanged despite an accident at its Mir underground mine in eastern Siberia, it said on Monday. Rescue teams are still searching for eight workers in Alrosa's underground Mir mine in the remote Yakutia region of... 

Romanov dynasty gets nod in trove with record Russia diamond

By: Bloomberg     2nd August 2017 The most-expensive diamond ever polished in Russia will be shown in Moscow as part of a collection of gems named after the dynasties of the Romanov-era Imperial Court. In 2015, Alrosa discovered a giant, 179-ct rough diamond in a mine in the northeast region of Sakha, naming it Romanov after the... 

Why Russia's market is rising after sanctions Bill approval

By: Bloomberg     27th July 2017 The US House has approved a bill hardening sanctions against Russia, but European resistance to some of its toughest new measures means the impact on companies will be muted, according to Goldman Sachs Group and Deutsche Bank. As it stands now, the most negative aspect of the bill for Russia,... 

Polymetal says Q2 revenue up 26% to $385m

By: Reuters     25th July 2017 Russian gold and silver producer Polymetal said on Tuesday its second-quarter revenue rose 26% year-on-year to $385-million due to an increase in production and higher sales of gold. The company, part-owned by businessman Alexander Nesis, said its gold equivalent production, a mixture of gold... 

South African simulators commissioned in Madagascar

By: Simone Liedtke     14th July 2017 Mining company Sherritt International’s Ambatovy operation, in Madagascar, has commissioned its Cybermine heavy equipment operator training simulators from South African surface and underground mining simulator supplier ThoroughTec Simulation. 

Poland sees Trump visit catalyst to cut Russian gas reliance

By: Bloomberg     5th July 2017 Polish leaders are betting Donald Trump’s visit to Warsaw starting on Wednesday, two days before the US President meets his Russian counterpart, will bolster their efforts to reduce the nation’s dependence on natural gas from its eastern neighbour. Less than a month after Poland’s Baltic Sea... 

New Russia sanctions impact muted even as energy shares sag

By: Bloomberg     16th June 2017 For investors in Russia’s energy and metals sectors, the US Senate’s bill to expand sanctions was a blow. Whether it will hurt Russian companies targeted by the legislation is less certain. The Senate bill proposes adding restrictions to banks’ and energy companies’ ability to raise capital, and... 

GOLD RUSH

By: Martin Creamer     16th June 2017 Less than two years after delisting from the London Stock Exchange, Russian gold producer Polyus has returned. Listed in Moscow with a market capitalisation of $9.9-billion, Polyus is prepared to sell 7% of its equity, which follows China’s Fosun Group agreed to acquire 15% of the company. CEO... 

Owner of $1bn cobalt project says rally is far from over

By: Bloomberg     5th June 2017 Tight cobalt supplies will keep boosting the price of one of this year’s hottest commodities, according to Eurasian Resources Group, which is developing an almost $1-billion project in the Democratic Republic of Congo (DRC). Cobalt jumped 71% this year on surging demand for the metal used in... 

Polyus launches secondary share offer in London, Moscow

By: Reuters     5th June 2017 Russia's top gold producer Polyus will offer new and existing shares in a secondary share offering in both London and Moscow, it said on Monday, in a deal that will test investor appetite for Russian assets. 

Rusal's refinancing frees firm to pay dividends when it wants

By: Bloomberg     2nd June 2017 United Co. Rusal, the largest aluminum producer outside China, will be able to pay dividends without the approval of its lenders for the first time in at least seven years after recent refinancing eased debt covenants. The company conducted two eurobond sales this year and tapped the panda bond... 

Israeli diamond billionaire Leviev buys into Zambia emerald mine

By: Bloomberg     1st June 2017 Billionaire Lev Leviev, who made his fortune undercutting De Beers’ former diamond monopoly, has bought half of one of Africa’s biggest emerald mines. Leviev bought into the Grizzly emerald mine in Zambia’s Copperbelt province, which borders the Democratic Republic of Congo, Kombadayedu Kapwanga,... 

Russian mining tycoons eyeing return to London's stock market

By: Bloomberg     26th April 2017 For three years, Russian companies retreated from the London stock market. Now, a pair of oil and mining-billionaires is hoping to break the drought. En+ Group, owned by aluminium magnate Oleg Deripaska, and Polyus PJSC, a gold producer controlled by the family of Suleiman Kerimov, are planning... 

Volatile global politics arouses bulls with gold at 5-month high

By: Bloomberg     12th April 2017 Worries about the unpredictability of a Donald Trump presidency are revitalising gold. Bullion is trading at the highest level since the week in November when Trump won the US election as rising global tensions surrounding Syria and North Korea strain investors’ nerves. A standoff between the US... 

Africa needs nuclear energy – Rosatom 

By: Keith Campbell     30th March 2017 Sub-Saharan Africa has a real need for, and rapidly growing interest in, nuclear power. This was affirmed by Rosatom International Network Regional VP: Sub-Saharan Africa Viktor Polikarpov at the Nuclear Africa 2017 conference on Wednesday. Rusatom International Network is part of Russia's... 

MICROMINE Russia is proud to sponsor the finalists at the 2017 Case-In International Engineering Championships.

     8th March 2017 MICROMINE Russia announced they would be sponsoring an additional place at this year’s Case-In International Engineering Championships. The purpose of the Championship is to identify and support the most promising students in the fields of mining, electric power, exploration, metallurgy and oil... 

Rosnedra Central Committee for Solid Mineral Deposit Development (Central Committee) partners with Micromine.

     1st March 2017 The Central Committee is the governing body for deposit development projects, located in Moscow Russia. In compliance with the Central Committee a mining must submit deposits prior to commencement of a project to the committee for final approval. The globally Committee activities are... 

Putin ally grabs giant gold deposit in barely contested auction

By: Bloomberg     26th January 2017 A long-time ally of President Vladimir Putin has snapped up a chunk of Russia’s giant Sukhoi Log gold field in a barely contested government auction. Bidding for the deposit was won by a venture between State-owned Rostec Corp. and Polyus PJSC, Russia’s biggest miner of the metal, after it made a... 

Diamond tables are turned as market discipline, restocking support prices in 2016

By: Henry Lazenby     16th December 2016 The Zimnisky Global Rough Diamond Price Index is up 12.1% in 2016 through to mid-December, driven higher in the first-half of the year as firm market demand for rough returned as manufactures restocked following the 2015 holiday season. The brainchild of independent diamond analyst Paul Zimnisky,... 

‘Revolutionary’ workforce training technologies from S Africa on display

     23rd September 2016 South Africa-based mine workforce training technologies supplier ThoroughTec Simulation, will reveal several new products at MINExpo International 2016, which will be held in Las Vegas, Nevada, from September 26 to 28. The products are expected to emphasise the company’s commitment to providing... 

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