Russia Mining News

Sandvik secures major order for mechanical cutting machines in Russia

Sandvik Mining and Rock Technology has secured a contract with SUEK (Sibirskaja Ugolnaja Energetitscheskaja Kompanija) for the supply of 12 mechanical cutting machines for various mines located in Siberia, Russia.

Alrosa makes $90m in Israel

The world’s top diamond producer held six auctions this year in the Middle Eastern country.

Russia sets aside 10B roubles to buy aluminium

Russia makes a move to support sanctioned aluminium producer Rusal.

'Passionate' electric car owners to drive growth, Shell says

Social desirability is important enough for consumers to ignore that battery-powered technology is currently more expensive than internal combustion engines.

Gold production to grow in the next four years: report

According to Fitch Solutions, slightly higher prices and stronger company financial positions are encouraging greater mine investment.

Nornickel aims to boost output to tap electric car boom

Nornickel’s current capex plan includes $6.5-7.5 billion for its base investment programme and $2.5 billion for its environmental programme.

China's CEFC paid out compensation after Rosneft stake deal fell through

CEFC had signed a deal to buy 14.2 percent of Rosneft from Qatar and Glencore when CEFC Chairman Ye Jianming was put under investigation by the Chinese authorities for suspected economic crimes.

ALROSA sells large rough diamonds in Vladivostok for $10.3 million

The company has sold 119 gem-quality rough diamonds with a total weight of 1,890 carats.

Russia's Polymetal starts construction at new gold mine

The plan includes 19 years of open-pit mining in 2019-2037.

OPEC+ faces risk of new oil surplus as prices slump

A technical committee representing the coalition projected on Saturday a global oil surplus will resurface in 2019.

U.S. postpones sanctions deadline on Russian tycoon's firms

U.S. authorities had given Russian tycoon Oleg Deripaska until Dec. 12 to reduce his holdings in the three companies but said in a statement that the deadline had been moved to Jan. 7, 2019.

ALROSA reports October diamond sales $242.8 million – down 28% YoY

ALROSA's total diamond sales in January-October 2018 grew 6% YoY.

Kinross on track for 2018 production and costs

The company achieved solid production and generated a positive cash flow.

Russian gold miner Polyus profit dented by currency losses

Q3 down 61% from 2017.

Alrosa recovers first rough diamond over 50 carats from new Yakutia deposit

The diamond's age is estimated at 350 million years, it weighs 51.49 carats and measures 23 by 22 by 15 mm.

Russian steelmaker MMK delays decision on Turkish plant restart

One of Russia's largest steel producers has postponed a decision on the restart of hot-rolled steel production at its Turkish plant.

Russian steelmaker MMK cautious after strong quarter, delays Turkey project

While MMK said it sees stable demand for steel products in its markets, it warns that global steel prices could put pressure on results.

Central banks continue to stock gold but ETF investors dump bullion

The World Gold Council found that gold demand reached 964.3 tonnes in Q3.

Japan aluminium roller UACJ removes Rusal from 2019 suppliers list-president

Japan's top aluminium rolling company is removing Rusal from its suppliers list for next year due to uncertainty over U.S. sanctions.

Russia's Nornickel boosts Q3 output at its copper project

Nornickels consolidated copper output has risen by 20% to 290,878 tonnes in the first nine months of 2018.

Alrosa kicks off mining at new diamond field in Siberia

President Vladimir Putin, who attended the opening ceremony, said the new operation reinforced the state-controlled firm's position as a diamond world leader.

Chaarat Gold buys Armenian mine from Russia’s Polymetal for $55m

Deal is part of Chaarat’s intention of becoming a major regional player in Central Asia, with an annual production of 1 million ounces, which aims to reach through acquisitions.

Chaarat Gold says Centerra refused C$2B offer for firm, not just Kumtor

The gold miner has given up on Kumtor and decided to focus its efforts on completing a deal for Armenia-based Kapan Mining instead

World’s two top diamond miners join forces to test blockchain pilot

Alrosa has joined rival De Beers' Tracr industry blockchain traceability platform, aimed at clearing the supply chain of imposters and conflict diamonds.

China's alumina exports in September surged to their highest level this year

Figure is fivefold increase from August, up 3,400% y/y