Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact Us
Customer Login
 


Headlines
 

08/03 19:54   Main indexes of the Russia stock market for August 3
 
08/03 19:53   RUSSIA INSISTS ON IMMEDIATELY STOPPING INTERFERENCE IN SITUATION IN SYRIA FROM OUTSIDE - LAVROV
 
08/03 19:51   RUSSIA PROVIDING MILITARY-TECHNOLOGICAL SUPPORT TO DAMASCUS SOLELY TO HELP IT COMBAT TERRORISTS - LAVROV
 
08/03 19:47   Pamfilova asks Ukrainian colleague to become familiar with living conditions of Russians Alexandrov, Yerofeyev in detention (Part 2)
 
08/03 19:46   RUSSIA SEES U.S.' STATEMENTS ON POSSIBILITY OF STRIKES UPON SYRIAN GOVT FORCES AS COUNTERPRODUCTIVE - LAVROV
 
08/03 19:46   Dollar, euro sharply higher against ruble on oil, rate cut
 
08/03 19:45   Russian civilian helicopter construction, unlike military, still depends on engine imports, including from Ukraine - Rogozin
 
08/03 19:41   Ukrainian ombudsman plans to visit Russians Yerofeyev, Alexandrov in detention
 
08/03 19:36   Russia's Navy to hold two int'l drills in Caspian Sea by yearend
 
08/03 19:33   Aggregated results for trading of shares in Moscow Exchange
 




 

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
Please enter the digits from picture in the box below:

August 03, 2015
 
19:54
Main indexes of the Russia stock market for August 3
 
19:53
RUSSIA INSISTS ON IMMEDIATELY STOPPING INTERFERENCE IN SITUATION IN SYRIA FROM OUTSIDE - LAVROV
 
19:51
RUSSIA PROVIDING MILITARY-TECHNOLOGICAL SUPPORT TO DAMASCUS SOLELY TO HELP IT COMBAT TERRORISTS - LAVROV
 
19:47
Pamfilova asks Ukrainian colleague to become familiar with living conditions of Russians Alexandrov, Yerofeyev in detention (Part 2)
 
19:46
RUSSIA SEES U.S.' STATEMENTS ON POSSIBILITY OF STRIKES UPON SYRIAN GOVT FORCES AS COUNTERPRODUCTIVE - LAVROV
 
19:46
Dollar, euro sharply higher against ruble on oil, rate cut
 
19:45
Russian civilian helicopter construction, unlike military, still depends on engine imports, including from Ukraine - Rogozin
 
19:41
Ukrainian ombudsman plans to visit Russians Yerofeyev, Alexandrov in detention
 
19:36
Russia's Navy to hold two int'l drills in Caspian Sea by yearend
 
19:33
Aggregated results for trading of shares in Moscow Exchange
 
19:32
Rogozin speaks of plans to prioritize creation of aircraft engines
 
19:28
Results of Interregional Trading for OFZ & OBR
 
19:28
 
19:27
Capitalization of Russian stock market increases 0.87% on Monday
 
 more headlines 



Interviews
 

.
North Korean Ambassador to Russia Kim Hyun Joon has given an interview to Interfax in which he speaks about differences between the Korean Peninsula nuclear problem and the Iranian nuclear dossier, states Pyongyang‘s readiness to bolster its nuclear potential in response to U.S. actions and calls on Washington not to hold joint exercises with South Korea.

more
.
.
OSCE Parliamentary Assembly Director of Communications Richard Solash has given an interview to Interfax in which he speaks about how the ban for Russian State Duma speaker Sergei Naryshkin to enter Finland for the summer session of the OSCE Parliamentary Assembly may impact the session and what this Finland‘s decision may lead to in current conditions.

more
.
.
Head of Operations for Europe and Central Asia of the International Committee of the Red Cross Laurent Corbaz has given an interview with Interfax in which he speaks about the activity of the ICRC in eastern Ukraine and problems that ICRC officials face there, as well as interaction with Russian authorities on humanitarian aid and situation with Ukrainian refugees.

more

 
  
 ©   1991—2015   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