Russia Mining News and Commentary

Asian Mineral Resources says no to Norilsk Nickel's $22 million offer

Michael Allan McCrae | May 23, 2012

Asian Mineral Resources' board is recommending that the shareholders turn down Norilsk Nickel's $22.3 million offer or 11 cents a share.

Throwing BRICS into the fire of gold and silver investment demand

Market Oracle | May 20, 2012

Despite ongoing pressure from the United States for China to join its sanctions against Iran due to concerns over the Islamic country’s nuclear program, an Iranian diplomat recently revealed that new energy trades between Iran and China will be settled in China’s official currency the yuan.
Alrosa not planning major investment in Timir iron ore project

Steel Guru | May 20, 2012

Interfax cited Mr Igor Kulichik Russian diamond miner vice president and financial director as saying that Alrosa is not planning major investments in the near term in the Timir iron ore project in Yakutia a 51% stake in which it is selling to steelmaker Evraz Group.
Graff Diamonds IPO should catapult the diamond king up the billionaires list

Frik Els | May 18, 2012

Laurence Graff, the undisputed king of uber-expensive diamonds, will earn a tidy $290 million windfall when he restructures his Mayfair-based company and will vastly boost his paper wealth when Graff Diamonds lists in Hong Kong for as much as $4 billion.
Russian billionaire Prokhorov files for copper-nickel Toronto IPO

Mining Weekly | May 17, 2012

Move over Mark Zuckerberg. Russia’s Mikhail Prokhorov, who Forbes ranks as the 58th richest person globally, has filed a prospectus to list his Intergeo MMC in Toronto, announcing it the day before Facebook goes public.
Uranium prices to hit rock bottom this year

Cecilia Jamasmie | May 11, 2012

With the price of uranium down about 25% from levels reached before the Japanese earthquake and nuclear disaster in Japan last year, the least the industry wanted to hear was what the latest edition of the Scotiabank Commodity Price Index had to say: the yellow material prices may well bottom in 2012.
Platinum to rack up eighth year of surplus

GFMS Limited -www.gfms.co.uk | May 3, 2012

Meanwhile, palladium remained in a gross deficit last year, with this being likely to increase in 2012.
Barrick makes investors day by hiking dividend 33%

Cecilia Jamasmie | May 2, 2012

Barrick Gold Corp. (TSX:ABX) increased its quarterly dividend by 33%, as the company announced Wednesday a 3% increase in its first-quarter profit.
Polyus Gold raises $365m through stake sale

Mineweb | May 1, 2012

The Russian gold miner sold a 7.5% stake in the business to two strategic investors in an effort to raise cash and boost its free float ahead of a planned London listing
Russia getting back into rare earth game

Andrew Topf | April 29, 2012

RareMetalBlog reports the Russian government has begun creating the conditions needed for an active resumption of rare earth production- the rationale being increased domestic demand for high-tech industry and the spectre of more export restrictions by China.
Basic Element companies expand partnership with Norinco Corporation

Basic Element | April 28, 2012

Oleg Deripaska, CEO of Basic Element and UC RUSAL and President of En+ Group, and Zhang Guoqing, President of China North Industries Corporation, signed a framework agreement on strategic cooperation providing for the joint implementation of projects in the engineering, mining and metal sectors.
Surprised it lasted this long. Soviet-era palladium stockpiles said to be depleted

Frik Els | April 26, 2012

Apart from Russian reserves no longer distorting the market, South Africa's dwindling supply is bound to boost prices further.
Barrick sells stake in Russian Highland Gold Mining cheap

Cecilia Jamasmie | April 26, 2012

Barrick Gold (NYSE:ABX)(TSX:ABX) announced today the sale of its entire 20% stake in Highland Gold Mining Limited (LON:HGM), the AIM-quoted Russian gold producer, at a price of 120 pence per share to undisclosed institutional investors.
Polyus Gold confirms intent to sell 7.5 pct stake

Mineweb | April 26, 2012

The company says it remains its intention to dispose of the 7.49% stake held by its subsidiary, Jenington International Inc, as it continues its goal of winning a premium listing in London.
Rusal’s $43 billion seven-year Glencore deal feeds investor feud

Bloomberg | April 22, 2012

United Co. Rusal (486), the world’s biggest aluminum supplier, is locked in to selling $43 billion of the metal to Glencore International Plc (GLEN) over seven years in a contract that’s fueling a feud among billionaire investors, four people familiar with the …
Polymetal to raise gold production at Varvarinskoye by 10%

Interfax-Kazakhstan | April 19, 2012

Polymetal bought the Varvarinskoye gold and copper deposit from the Kazakhstani Orsu Metals in November 2009. The deposit's reserves were estimated at 92.2 million tons of ore (3.103 million ounces of gold).
The meek shall inherit the earth, but not its mineral rights: Meet mining's 40 richest billionaires

Frik Els | April 16, 2012

MINING.com counts more than 90 billionaires involved in minerals, metals and mining on the planet with a combined wealth of well over $300 billion.
Melting Arctic is nothing but good news for the mining industry: Lloyd's/Chatham House

Cecilia Jamasmie | April 13, 2012

The melting ice cap in the Arctic sea could open up access to immense mineral reserves, attracting billions of dollars in investment, but also bringing with it unique risks and challenges, says Lloyd’s/Chatham House latest Risk Insight report.
Investors look the other way after White Tiger Gold's loss, management's 800% pay hike

Frik Els | April 9, 2012

White Tiger Gold swung into a loss in 2011 mainly due to what the company termed "administrative costs" in relation to the merger with Century Mining. In the process management's remuneration jumped to $3.9 million from $422,000 the year before. Investors shrugged and sent White Tiger Gold jumping 10.2% on Monday.
Russian billionaires clash over $47 billion aluminum supply deal

Andrew Topf | April 8, 2012

Sual Partners Group, owned by Russian billionaire Viktor Vekselberg, is suing Rusal, the world's top aluminum producer and commodities giant Glencore over an aluminum supply deal worth some $47 billion.
Russian diamond manufacturers criticize India

IDEX Online | April 8, 2012

Access to rough diamonds has always been an issue for diamond manufacturers, and the backdrop to much commercial and national strife. Last week this was exemplified when a Russian manufacturing association said they are "outraged" by an Indian appeal to formalize sales by a Russian diamond repository.
White Tiger swings into $10 million loss, but management pay rises 9-fold

Frik Els | April 6, 2012

Net losses came in at a shade under $10.5 million for the year which as mainly due to what the company termed "administrative costs" that totaled $15.2 million (it was only $800,000 in 2010) in relation to the merger with Century Mining. In the process management's remuneration jumped to $3.9 million from $422,000 the year before.
Alrosa IPO may be receding in the distance just as Russian rock star hits the sweet spot

Frik Els | April 6, 2012

The world's number one diamond miner does not seem to be in need of cash. Too bad, direct exposure to diamonds has always been hard to come by and the diamond business' fundamentals continue to improve.
Russia can't be a potential market for polished diamond export

The Times Of India | April 4, 2012

Will the Gems and Jewellery Export Promotion Council (GJEPC) succeed in its endeavour of establishing Russia as a potential market for polished diamond export through the Indo-Russian buyers sellers meet (BSM) in Surat? It seems like a distant dream for many in Surat.
Polyus Gold terminates Altyn deal

Mineweb | April 2, 2012

The company says it has terminated a 2011 agreement to sell its operating units in Kazakhstan, Kyrgyzstan and Romania to Altyn because part of the deal, known as the First Tranche Completion, did not occur on time.
Oй! White Tiger misses deadline to submit financials, says struggling to account for Century buy

Frik Els | March 30, 2012

White Tiger Gold (TSX:WTG) is worth only one-tenth of what it was last year and news out late on Friday will do little to restore investor confidence in the Canada-Russia gold miner.