R/€ = 14.69 Change: 0.14
R/$ = 11.98 Change: 0.04
Au 1310.55 $/oz Change: 1.77
Pt 944.00 $/oz Change: 2.00


Polyus adds new metal, more gold to shake 'Russian discount'

By: Bloomberg     Updated 6 hours ago Polyus is targeting more than just gold to help challenge the “Russian discount” it says is tainting its share price. The Russian precious metals miner plans to sell shares on the market and boost gold production, which could vault it into the top five biggest miners in the world as early as... 

Russian diamond company Alrosa posts 28% profit fall

By: Reuters     16th March 2018 Russian diamond producer Alrosa suffered a sharp fall in core profit last year, hit by lower prices for its gems. The world's largest producer of rough diamonds said that earnings before interest, taxation, depreciation and amortisation (Ebtida) fell 28% to 126.9-billion roubles, broadly meeting... 

Russian billionaire Potanin buys 2% of Nornickel from Abramovich

By: Reuters     15th March 2018 Russian billionaire Vladimir Potanin's Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2% stake in Norilsk Nickel, which has been the subject of a legal battle. Abramovich struck a provisional deal last week that allowed him to sell a 4% stake in... 

Eurochem produces first potash at new $2bn Russian plant

By: Reuters     13th March 2018 Russia-focused fertiliser producer Eurochem said it has produced its first potash at its new $2-billion Usolskiy plant in Russia. The project may intensify competition among suppliers of the crop nutrient in the region, traditionally dominated by Russia's monopoly producer Uralkali and... 

Russian coal miner SUEK raises $1bn syndicated loan – Interfax

By: Reuters     13th March 2018 Russian coal miner SUEK said on Tuesday it raised a $1-billion syndicated loan, Interfax reported citing a company statement. "The loan with a five-year maturity date is secured by the group's export earnings," it said. 

Russia's 2018 gold production expected to rise 3% – lobby

By: Reuters     6th March 2018 Russia's gold production in 2018 is expected to rise by 3% to 328 t on higher output from mines, producers' lobby Gold Industrialists' Union said on Tuesday. The estimate includes output from mines, from gold as a by-product of other metals, refined from scrap and gold containing concentrate. 

Rusal quest for value to dent Glencore's aluminium clout

By: Reuters     27th February 2018 Mining giant Glencore's deal to buy aluminium from Rusal will be renewed from 2019, but the tonnage is likely to be much lower as the Russian producer taps into growing demand for value-added products, two sources close to the matter said. Unless it sources from additional suppliers, the... 

Rusal Q4 core earnings surge, Deripaska steps down

By: Reuters     23rd February 2018 Russian aluminium giant Rusal posted a 42% jump in fourth-quarter core earnings on Friday, helped by higher aluminium prices, and announced billionaire Oleg Deripaska would step down as president, as expected. Hong-Kong listed Rusal said fourth-quarter earnings before interest, taxation,... 

Russia's Prokhorov sells 6% stake in Rusal to Vekselberg

By: Reuters     20th February 2018 Russian businessman Mikhail Prokhorov has agreed to sell a 6% stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday. The sale will close a chapter at the world's second largest aluminium producer.... 

Russian magnate Deripaska to quit roles at his two biggest firms

By: Reuters     19th February 2018 Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls - aluminium giant Rusal and En+ Group, two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires... 

Novatek says wins auction for Alrosa's gas assets

By: Reuters     19th February 2018 Novatek, Russia's largest non-State gas producer, said on Monday it had won an auction for Alrosa's two gas assets with a bid of 30.3-billion roubles. Novatek has been actively buying upstream assets in an effort to boost sluggish natural gas output. 

Russia's mining billionaires are back to fighting over Nornickel

By: Bloomberg     16th February 2018 The billionaire owners of Russia’s biggest mining company have revived a years-old feud. Oleg Deripaska, one of the top shareholders of MMC Norilsk Nickel, wants to stop Roman Abramovich from selling a stake in the company that may worth $1.5-billion, according to three people familiar with... 

Polyus sold more gold last year to bailed-out bank Otkritie

By: Reuters     15th February 2018 Russia's largest gold producer Polyus sold more gold last year to Otkritie bank, which was rescued last August by the country's central bank, Polyus's 2017 management report showed on Thursday. Russian gold producers usually sell their product to Russian banks which then sell it on to the... 

Russian 2017 gold output at 306.9 t – Finance Ministry

By: Reuters     13th February 2018 Russia produced 306.9 t of gold in 2017, up from 288.5 tin 2016, the Finance Ministry said on Tuesday. Production for the period included 253.9 t of mined gold compared with 237.8 tin 2016, the Ministry said in a report. 

Alrosa sold diamonds worth $504.5m in January

By: Reuters     13th February 2018 Russia's Alrosa said on Monday it had sold rough and polished diamonds worth $504.5-million in January. Rough diamond sales had amounted to $499-million and polished diamond sales to $5.5-million, it said in a statement. 

Russia says discussing road map for usage of PGMs with South Africa

By: Reuters     12th February 2018 Russia and South Africa are discussing a road map for the usage of platinum group metals (PGMs), Russian Natural Resources Minister Sergei Donskoi said in a statement on Friday. Donskoi discussed the need for more active cooperation in the usage of PGMs with his South African counterpart in... 

Putin to discuss environment with Russian metals tycoons

By: Reuters     7th February 2018 Russian President Vladimir Putin will meet metals tycoons whose businesses are located in the region of Krasnoyarsk, which the President is visiting today, to discuss local residents' ecological concerns, the Kremlin said on Wednesday. Putin will meet with billionaire Vladimir Potanin, co-owner... 

Russian stocks shrug off US 'oligarchs list'

By: Reuters     30th January 2018 Russian stocks edged higher on Tuesday, shrugging off the risk of possible new sanctions from a newly published US list of oligarchs close to the Kremlin. 

Alrosa to decide Mir mine future before privatisation

By: Reuters     26th January 2018 Russian State-controlled diamond miner Alrosa needs to decide what to do with its Mir mine mine after last year’s flooding incident before its privatisation plans come back on the agenda, Russian Deputy Finance Minister Alexei Moiseev said on Friday. Russia does not plan to reduce its stake in... 

Alrosa aims to sell 40m carats of diamonds in 2018

By: Reuters     25th January 2018 Alrosa could sell around 40-million carats of diamonds in 2018 provided market conditions are favourable, the Russian State-controlled diamond miner said on Thursday. The world's largest producer of rough diamonds has said it expects production to fall in 2018 due to an accident at its Mir mine... 

Successfully delivering results 15 years after commissioning

     25th January 2018 For 25 years, Immersive Technologies has been working with mining companies across the globe to achieve Real Results in operator safety and productivity – these partnerships have for many years driven quantifiable operational improvement. Successfully achieving these results means consistently... 

Virtual Reality Training, WorksiteVR Quest: A Leap Forward in Personnel Induction at Rio Tinto’s Oyu Tolgoi Mine.

     25th January 2018 Immersive Technologies developed a series of WorksiteVR Quest virtual reality scenarios designed to facilitate a blended learning model in conjunction with eLearning and practical activities. Mine site inductions are necessary however often dry, boring, and... 

Russia not discussing reducing its stake in Alrosa in 2018 - RIA

By: Reuters     24th January 2018 Russia is not discussing reducing its stake in diamond miner Alrosa in 2018, the RIA news agency quoted Alrosa CEO Sergei Ivanov as saying on Wednesday. 

Argentina, Russia ink uranium exploration, production deal

By: Reuters     23rd January 2018 Argentina and Russia signed a memorandum of understanding to boost uranium exploration and production in the South American country that could include $250-million in investment, Argentina's foreign ministry said on Tuesday. The agreement was sealed during a visit by Argentine President Mauricio... 

Russia's Arlan aims to have doubled gold output in 2020

By: Reuters     12th January 2018 Russian gold producer Arlan plans to have doubled gold output from its mine in 2020, expecting the price for the precious metal to rise further, the firm's director for development said. Russia, the world's third largest gold producer, has seen its gold mining expand in recent years with a... 

Rosneft decides against bid for Alrosa's gas assets for now

By: Reuters     10th January 2018 Rosneft has decided against bidding for gas assets being sold by diamond miner Alrosa, at least for now, the Russian energy company said on Wednesday, saying the auction terms were unacceptable. The world's largest producer of rough diamonds plans to sell its gas assets in Russia's Yamalo-Nenets... 

BlackRock-backed gold miner prepares to join rush of Russia IPOs

By: Bloomberg     10th January 2018 GV Gold, a Russian miner backed by BlackRock, plans an initial public offering (IPO) in Moscow this year after first doubling its output in a possible acquisition, according to the miner’s chief. “Our shareholders want an IPO to get a market valuation of the business and have their holdings... 

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... 

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... 

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... 

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