Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact us
Customer Login
 


Headlines
 

05/27 00:39   Russia, Japan to continue searching for peace treaty problem solutions acceptable for Moscow, Tokyo - Putin (Part 2)
 
05/27 00:35   Abe hopes that joint economic activities in S. Kurils will help along path toward Japan-Russia peace treaty (Part 2)
 
05/27 00:28   Over 66,000 residents return to Eastern Ghouta - Gen. Yevtushenko
 
05/27 00:21   Tokyo, Moscow to seek signing peace treaty - Abe
 
05/26 23:51   Kremlin says no top-level phone contact scheduled as part of Normandy Format
 
05/26 23:40   Japanese PM Abe: An end should be put to Russia-Japan peace treaty problem in our lifetime
 
05/26 23:29   Current generation should put end to Russia-Japan peace treaty problem - Japanese PM Abe
 
05/26 22:53   Putin says supporting third Japanese business mission to Kurils in H2
 
05/26 22:43   Moscow, Tokyo to maintain close contacts with regard to Korean Peninsula's denuclearization - Abe
 
05/26 22:34   Putin-Trump meeting before G20 summit not being discussed - Russian presidential aide
 


 

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:

May 27, 2018
 
00:39
Russia, Japan to continue searching for peace treaty problem solutions acceptable for Moscow, Tokyo - Putin (Part 2)
 
00:35
Abe hopes that joint economic activities in S. Kurils will help along path toward Japan-Russia peace treaty (Part 2)
 
00:28
Over 66,000 residents return to Eastern Ghouta - Gen. Yevtushenko
 
00:21
Tokyo, Moscow to seek signing peace treaty - Abe
 
May 26, 2018
 
23:51
Kremlin says no top-level phone contact scheduled as part of Normandy Format
 
23:40
Japanese PM Abe: An end should be put to Russia-Japan peace treaty problem in our lifetime
 
23:29
Current generation should put end to Russia-Japan peace treaty problem - Japanese PM Abe
 
22:53
Putin says supporting third Japanese business mission to Kurils in H2
 
22:43
Moscow, Tokyo to maintain close contacts with regard to Korean Peninsula's denuclearization - Abe
 
22:34
Putin-Trump meeting before G20 summit not being discussed - Russian presidential aide
 
22:28
Russia-Japan meeting on security in 2+2 format to take place in H2 2018 - Abe
 
22:20
Japanese PM Abe says hoping next meeting with Putin to be held at Far Eastern Economic Forum in Sept 2018
 
22:13
Abe hopes that joint economic activities in S. Kurils will help along path toward Japan-Russia peace treaty
 
21:38
Putin urges preventing new spiral of confrontation on Korean Peninsula
 
 more headlines 



Interviews
 

.
The director of the Executive Committee of the SCO Regional Anti-Terrorist Structure, Yevgeny Sysoyev, gave an interview to Interfax in which he discussed threats that Russia and the world face in the light of ISILs transformation, as well as the structures achievements in the fight against terrorism.

more
.
.
Ahead of his visit to Moscow newly-elected Austrian Chancellor Sebastian Kurz has given an interview to Olga Golovanova for Interfax. In the interview he speaks about his expectations from the upcoming meeting with the Russian president, his vision of solving the energy-security problem in Europe, the migration crisis, and explains conditions under which some sanctions could be lifted from Russia.

more
.
.
Palestinian Ambassador to Russia Abdel Hafiz Nofal has given an interview to Interfax correspondent Veronika Vishnyakova ahead of a visit of Palestinian leader Mahmoud Abbas to Russia in which he speaks about the main topics of the upcoming Russian-Palestinian summit, prospects for the Palestinian-Israeli settlement and the initiative of creating a new mediating mechanism for the Palestinian-Israeli settlement.

more

 
  
 ©   1991—2018   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