<a href=/RCL/BAN/009/?lnk=yes target=_blank><img src=/RCL/BAN/009/141014_1.gif width=1050 height=60 border=0></a>
Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact Us
Customer Login
 


Headlines
 

10/20 13:33   Transdniestria to have right to decide future independently if Moldova changes non-bloc status - Lavrov (Part 2)
 
10/20 13:30   Transdniestria to have right to decide future independently if Moldova changes non-bloc status - Lavrov (Part 2)
 
10/20 13:28   Bankers estimate Ukraine needs over $5 bln additional financing
 
10/20 13:26   Lavrov: Statements by U.S. colleagues show who destroys confidence in Europe (Part 2)
 
10/20 13:26   Lavrov: Statements by U.S. colleagues show who destroys confidence in Europe (Part 2)
 
10/20 13:25   Ukrainian industry plummets 16.6% in Sept
 
10/20 13:24   Rosoboronexport expects over $13 bln arms exports in 2014 (Part 2)
 
10/20 13:24   Commotion in Sweden may have been caused by Dutch sub - Russian military
 
10/20 13:23   Rosoboronexport expects over $13 bln arms exports in 2014 (Part 2)
 
10/20 13:22   Commotion in Sweden may have been caused by Dutch sub - Russian military
 




 

Interfax.com  |  Interfax news  |  Kumtor boosts gold output 11% in H1


News headlines


August 11, 2014 15:23

Kumtor boosts gold output 11% in H1

BISHKEK. Aug 11 (Interfax) - Gold output at Kumtor, the largest gold mine in Kyrgyzstan, was 5.6 tonnes in H1 2014, up 11% year-on-year, CJSC Kumtor Operating Company said in a statement.

"At the Kumtor mine, gold production in the second quarter was 2,422 kg (or 77,860 ounces) compared to 2,251 kg (or 72,365 ounces) in the same quarter in 2013 as Kumtor processed stockpiled ore from cut-back 15 that was mined during the fourth quarter of 2013. The increase in ounces poured was due to processing more tonnes with a higher average mill head grade than the comparative period," the statement said.

During the first half of 2014, Kumtor's mill head grade averaged 2.5 grams per tonne with a recovery of 74.7%.

In the reporting period, the enterprise sold 5.57 tonnes of gold, total sales revenue was $231.5 million.

Capital expenditures were $209.6 million, from which $21.2 million went towards sustaining capital, $13.3 million towards growth capital and $175 million towards capitalized stripping.

Payments to the national budget in taxes, transfers to Kyrgyzstan's Social Fund and other mandatory payments totaled $58 million, the statement said.

"We are happy to report that during the second quarter the Kumtor mine obtained approvals of its 2014 mine plan allowing the operations to continue uninterrupted. The results obtained allow us to count on the successful achievement of our 2014 guidance," the statement cited Michael Fischer, President of Kumtor Gold Company, as saying.

"According to estimates, Kumtor mine will produce between 550,000 and 600,000 ounces or 17.1-18.7 tonnes in 2014 and, similar to 2013, over 50% of this gold production is expected during the fourth quarter when mining will reach the high-grade section of the SB Zone," the statement said.

"The projected capital expenditures for 2014, excluding capitalized stripping, are estimated to be $86 million of which $43 million will be spending on sustaining capital, including the major overhaul maintenance of the mine equipment, purchase of ball mill girth gear, tailings dam construction raise and other items. Growth capital investment at Kumtor is forecast at $43 million and includes the relocation of certain infrastructure at Kumtor related to the KS-13 life-of-mine expansion plan, dewatering projects and purchase of new mining equipment," it said.

"Capitalized stripping costs (cash) are expected to be $181 million in 2014," the statement said.

CJSC Kumtor Gold Company and CJSC Kumtor Operating Company are subsidiaries of the Canadian mining company, Centerra Gold. The first is a management company responsible for operating activities and the second conducts general economic planning and management.

Cm pr of

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Global Natural Gas Daily
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire

October 20, 2014
 
13:24
Rosoboronexport expects over $13 bln arms exports in 2014 (Part 2)
 
13:24
Commotion in Sweden may have been caused by Dutch sub - Russian military
 
13:23
Rosoboronexport expects over $13 bln arms exports in 2014 (Part 2)
 
13:22
Commotion in Sweden may have been caused by Dutch sub - Russian military
 
13:19
Gazprom to accept bids for 15 bln rubles in BO-21 bonds starting Oct 21
 
13:19
UMMC may move back date for building enrichment plant in Kuzbass
 
13:16
Lavrov: Arab-Israeli conflict prompts fresh recruitment of terrorists
 
13:15
Lavrov: Arab-Israeli conflict prompts fresh recruitment of terrorists
 
13:12
Current period in Russian-U.S. relations will last long time - Lavrov (Part 2)
 
13:11
Current period in Russian-U.S. relations will last long time - Lavrov (Part 2)
 
13:09
 
13:08
Lavrov hopes Russian-U.S. relations won't be aggravated further (Part 2)
 
13:08
Nordgold acquires Ronguen project in Burkina Faso
 
13:05
Lavrov refers border security question to militia
 
 more headlines 



Interviews
 

.
Pakistani Ambassador to Russian Zaheer Aslam Janjua has given an interview to Interfax in which he speaks about prospects for supplying more Pakistani food products to Russia, the quality of such products and invites Russian companies to implement infrastructural projects in Pakistan.

more
.
.
John Padilla, managing director of consultants IPD Latin America, talks to Interfax about Colombia’s investment climate.

more
.
.
Palestinian leader Mahmoud Abbas signals readiness for compromise and praises Russia’s role in settling conflict in Middle East in an exclusive interview with Interfax

more

 
  
 ©   1991—2014   Interfax Information Service. All rights reserved.
contact information   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100