Metals & Mining Industry in Russia

​Russia surpasses US gold production for first time in 25 years



Russia has produced more gold than the United States for the first time in 25 years. It’s now the world’s third biggest producer after China and Australia, Minister of Natural Resources and Environment of Russia Sergey Donskoy said.

In the last five years 270 mineral deposits were found in Russia, despite it not being a leading country for mineral exploration investment.

"This, in our opinion, has negative consequences, including a negative impact on the social and economic development of the regions," Vestifinance.ru quotes Donskoy as saying.

In 2013 Russia increased gold production by 12.6 percent achieving 254,241 tons according to the Russian gold producers union. China, the world’s major gold producer, increased its gold production by 6.2 percent to 428.16 tons a year.

However in 2013 gold prices tumbled by 28 percent and have only slightly recovered this year from $1,217 to $1,328 per troy ounce.

Unlike other countries where the taxation of oil and gas production is based on revenue, Russian legislation also includes the expense of geological exploration.

A deduction of exploration expenses from the production tax will contribute to the development of Russian gold production, says the minister, explaining that the US already has similar legislation for its coal industry.

http://rt.com/business/171840-russia-gold-production-increase/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

Nice

Russia signs deal to develop Zimbabwe’s major platinum mine

Viktor wrote:Nice  

Russia signs deal to develop Zimbabwe’s major platinum mine

lol zimbabwe, last time i read about zimbabwe ther inflation was weimar republic like, 95% unemployment, water system breakdown, cholera outbreak and people were starving on the streets

lets see if they can pay us, or "how" we will get paid

NationalRus wrote:

Viktor wrote:Nice  

Russia signs deal to develop Zimbabwe’s major platinum mine

lol zimbabwe, last time i read about zimbabwe ther inflation was weimar republic like, 95% unemployment, water system breakdown, cholera outbreak and people were starving on the streets

lets see if they can pay us, or "how" we will get paid

If you knew anything about economics, you'd know that the future is what really counts.

Mike E wrote:

NationalRus wrote:

Viktor wrote:Nice  

Russia signs deal to develop Zimbabwe’s major platinum mine

lol zimbabwe, last time i read about zimbabwe ther inflation was weimar republic like, 95% unemployment, water system breakdown, cholera outbreak and people were starving on the streets

lets see if they can pay us, or "how" we will get paid

If you knew anything about economics, you'd know that the future is what really counts.

well if read milton friedman and peter schiff, yeah the future counts, future for zimbabwe in ther curent economic devolopment form? not that bright

They have decent mineral reserves, which when utilized, should be enough to get things going. - Read some Von Mises.

Mike E wrote:They have decent mineral reserves, which when utilized, should be enough to get things going. - Read some Von Mises.

they had them always, didnt help when you run your economy like north korea, friedman and ludwig von mises would turn in ther graves, not quite the liberterian economy, anyway as if i care, i only hope we will get paid good, they can starve further for all i care

NationalRus wrote:

Mike E wrote:They have decent mineral reserves, which when utilized, should be enough to get things going. - Read some Von Mises.

they had them always, didnt help when you run your economy like north korea, friedman and ludwig von mises would turn in ther graves, not quite the liberterian economy, anyway as if i care, i only hope we will get paid good, they can starve further for all i care

Like I said, they will need to utilize them unlike what they've done in the past. It could take a hundred years for all I care, but a start is a start. - Mises "of course" would turn in his grave, but he would at all other countries as well.

Mike E wrote:

NationalRus wrote:

Mike E wrote:They have decent mineral reserves, which when utilized, should be enough to get things going. - Read some Von Mises.

they had them always, didnt help when you run your economy like north korea, friedman and ludwig von mises would turn in ther graves, not quite the liberterian economy, anyway as if i care, i only hope we will get paid good, they can starve further for all i care

Like I said, they will need to utilize them unlike what they've done in the past. It could take a hundred years for all I care, but a start is a start. - Mises "of course" would turn in his grave, but he would at all other countries as well.

singapour and hongkong would give him some hope

Nah, he is all for the gold standard.

Old europe has swept through the world gorging up on easy resources... changing boundaries, starting wars, creating the Middle Eastern Royal families.

The result has been the people get crapped on and a few officials make a fortune.

Now I can't guarantee Russia wont do the same but the Chinese certainly seem to have been building schools and roads where they invest their money because a modern workforce makes things easier.

BTW If Zimbabwae has not money they can pay in Platinium.

Just look at the history of Belgium in the Congo to see how bad they could be and still be 100 times better than westerners.

Russian miners find rock containing 30,000 diamonds

Russian workers at Alrosa's Udachnaya diamond mine have found a strange red and green 30 mm rock containing over 30,000 tiny diamonds, which may yield valuable information about how the precious gems form in natural conditions.

While the stone had a concentration of diamonds 1 million times higher than normal, the miners knew such small diamonds were pretty much worthless as gems, so they donated it to the Russian Academy of Sciences for study, LiveScience reports.

After scanning the rock with X-rays, scientists found that the diamonds inside measure just 1mm and are octahedral in shape — similar to two pyramids stuck together at the base. The red and green colouring comes from larger crystals of garnet, olivine and pyroxene.
Russian miners find rock containing 30,000 diamonds

Image courtesy of Larry Taylor, geologist at the University of Tennessee. (Click on it to enlarge)

"The exciting thing for me is there are 30,000 itty-bitty, perfect octahedrons, and not one big diamond," Larry Taylor, a geologist at the University of Tennessee, who presented the findings at the American Geophysical Union's annual meeting, was quoted as saying. "It's like they formed instantaneously. This rock is a strange one indeed."

Russia is the largest diamond-producing country in the world, generating over 33 million carats last year. State-run Alrosa, the owner of Udachnaya mine, is the world's largest diamond miner, accounting for 99% of Russia’s output and 27% of global production.
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Russian ministry of industry expects rise in retail turnover this year

Russia’s Alrosa plans 5% increase in diamond production in 2015

http://ria.ru/atomtec/20150129/1044907708.html

http://www.sdelanounas.ru/blogs/57851/

Rosatom developing a Uranium mine in Buryatia. Production in 2016 will be over 500 tons
going up to 1000 tons per year in 2018.

http://www.wise-uranium.org/upru.html

The Uranium production by Rosatom is set for rapid expansion.

http://www.armz.ru/eng/companies/map/

Clickable map of ARMZ's mining operations and service companies.

Siberia: a new kimberlite pipe will give 93 million carats of diamonds

Top Russian Diamond Producer Alrosa Gets Credit Upgrade

Moody's stated that Russian diamond producer Alrosa’s credit rating was bumped up a notch to Ba2 from Ba3 on a positive reassessment of the company’s financial outlook.

WASHINGTON (Sputnik) — Russian diamond producer Alrosa’s credit rating was bumped up a notch to Ba2 from Ba3 on a positive reassessment of the company’s financial outlook, the credit agency Moody's Investors Service said in a statement.

“Following a reassessment of the credit profile, today's rating action reflects Moody's view that despite of the inherent risks that remain in the Russian market, Alrosa has continued to perform in line with Moody's guidance for a positive rating action, and to maintain a solid liquidity profile,” Moody’s said on Tuesday.

Alrosa, the world’s largest diamond producer, accounts for some 28 percent of global diamond output. The Russian government is the principal shareholder in the company.

Moody’s upgraded Alrosa’s corporate family rating (CFR) to Ba2 from Ba3, baseline credit assessment (BCA) to ba3 from b2, and upgraded Alrosa Finance S.A.'s debt to Ba2 from Ba3.

Alrosa was previously downgraded along with 45 other non-financial corporate ratings of Russian companies and placed under review.

A Ba2 rating means the corporate debt is still speculative at two notches below investment grade.

Moody’s said diamond prices are stronger than expected while demand remains robust. The company’s liquidity has improved and Alrosa could benefit from the ruble’s devaluation.

Approximately 90 percent of Alrosa’s revenue is in foreign currency while locally denominated expenditures are between 10 and 20 percent, allowing the company to benefit from a lower ruble and show robust cash flow.

Moody’s also cited the company’s large stockpile of diamonds and global market share of 28 percent as warranting an upgrade.

Read more: http://sputniknews.com/business/20150422/1021205392.html#ixzz3YBFuHKzM

Unique gold nugget weighing 4.7 kg for Bashkortostan exhibition

It will be on display for two days, on July 9 and 10, when Ufa brings together delegates to the intergovernmental SCO and the BRICS group

UFA, May 25. /TASS/. A 4,788-kilogramme gold nugget named Irendyk Bear will be exhibited under 24-hour police guard in the National Museum of Bashkortostan, a Russian territory in the Urals region, as leaders from a host of countries gather for two international summits at Ufa, the capital.

It will be on display for two days, on July 9 and 10, when Ufa brings together delegates to the intergovernmental Shanghai Cooperation Organisation and the BRICS group of developing nations Brazil, Russia, India, China and South Africa.

Museum deputy director Venera Allaguvatova told TASS the nugget was a national treasure of Russia and Bashkortostan. Two officers will guard the unique item round the clock within the armour-plated walls of a hall housing the exhibition of Sarmatian gold.

The Sarmats were nomadic Iranian-speaking herder tribes living in steppe areas stretching from the Urals mountains to the watershed of the Tisza and Danube rivers during the last centuries of the Early Iron Age between the sixth and fourth centuries BC.

"There are special conditions for displaying such a valuable exhibit - a specially equipped showcase, an armed guard and a powerful alarm," said Allaguvatova, adding that since the nugget's transfer from the National Bank of Bashkortostan to the museum in 2011, it had been open to public view only two or three times.

The nugget's shape resembles a bear and was found in 1992 near the village of Kuseevo on the eastern branch of the Irendyk mountains.

Legend has it that in 1557, locals presented it as a gift to Tsar Ivan the Terrible as a sign of respect. But on its way to Moscow, the conveying convoy was attacked by robbers - guards travelling with it managing to hide the nugget in the earth to remain there for more than 400 years.

The exhibition comprises 279 items.

Russia considers raising mineral extraction tax for steel makers — minister

The government is now considering various options of adding sources of budget revenues

MOSCOW, September 28. /TASS/. Russian government considers raising mineral extraction tax for steel makers, Economic Development Minister Alexey Ulyukayev said on Monday.

"Theoretically, steel makers could be considered as well," he said when answering a respective question.

The minister added that the government is now considering various options of adding sources of budget revenues. "The fact is more or less clear that a more gradual reduction of crude export duty is a source of budget revenues. We should cross from 42% over to 36%. Obviously, we can rather smoothly only cross to 40% and 39%," he said.

All participants of the discussion support the issue of limiting the duty reduction, Ulyukayev said. "There are only quantitative assessments - some want less, some - more," he said.

Additional budget revenues may be reached beyond the energy sector, for example, using revenues of the Bank of Russia, the Minister said.

Russia's Rusal will produce alumina from Siberian clay instead of imported bauxites

Rusal is a leading global aluminum producer and one of the world’s major producers of alumina

MOSCOW, October 14. /TASS/. The globally largest aluminum producer Rusal is developing an acid technology of producing alumina [feedstock for aluminum - TASS] from non-bauxite raw materials, the company said on Wednesday. The technology will make possible to produce alumina from domestic kaolin clay instead of imported bauxites.

Rusal plans to develop feasibility study for construction of an alumina refinery with the capacity over 1 mln tonnes a year after completion of the R&D stage.

"Russia is rich with kaolin clay. Discovered reserves will provide us with more than 200 years’ worth of production. The USA, Canada, China, Norway and Australia have been working for a long time on alumina production using non-bauxite raw materials (kaolins, ashes, etc.). New technologies are a strong competitive advantage, and no one would sell them aside," Rusal’s Technical Director Victor Mann said.

The new technology will significantly improve Rusal smelters’ economic efficiency thanks to the low cost of the material and the logistical cost reduction, the company reported. The technology also provides for the simultaneous production of a range of high demand products, including the ones based on the silicon oxide and rare-earth metals.

Rusal is a leading global aluminum producer and one of the world’s major producers of alumina.

"Rusal" for 9 months increased aluminum production by 1.4%

Bauxite production for the period increased by 7.2%, to 9834 thousand. Tons, alumina output - by 1.1% to 5496 thousand.

HONG KONG, Oct. 28. / TASS /. The company "Rusal" (UC RUSAL) - the world's largest aluminum producer - increased its output of the metal for the first 9 months of 2015 by 1.4% - to 2724 thousand. Tonnes. This was reported in a press release.

Bauxite production for the period increased by 7.2%, to 9834 thousand. Tons, alumina output - by 1.1% to 5 496 thousand. Tonnes.

In 2014, the Company accounted for about 7% of global production of aluminum and 7% - of alumina. The company employs about 61 thousand people. "Rusal" is present in 19 countries on 5 continents. The company sells its products primarily in Europe, North America, Southeast Asia, Japan, China and Korea. Shares of "Rusal" are traded on the Hong Kong Stock Exchange.

Approximately 48.1% of the shares owned by UC RUSAL of En +, Oleg Deripaska, 17.02% - the group "Onexim" Mikhail Prokhorov, 15,8% - SUAL Partners Viktor Vekselberg and Leonid Blavatnik, 8,75% - Amokenga Holdings (owned by Glencore) 0.26% - the company's management. Only a little over 10% of shares are in free float.

Super diamond worth $1.5 mln in found in Russia's Yakutia

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http://tass.ru/en/economy/855945