Russia raised gold production 11%, silver down 7% in H1 - mining union
MOSCOW. Sept 9 (Interfax) - Russia raised overall gold production 11% year-on-year in H1 2019 to 142.223 tonnes, the Union of Gold Producers said.
Mine supply rose 12% to 110.535 tonnes, plus 9.293 tonnes from byproduct gold, up 24%. Production of gold in concentrates grew one-third to 6.876 tonnes while gold production from scrap fell 5% to 15.519 tonnes.
The production growth in H1 2019 was driven by Polyus's Natalka mine reaching full capacity, the launch of an autoclave by Petropavlovsk, development of the Olcha field by Polymetal and rich ore processed at the Svetloye field.
In light of the H1 results, the Union affirms its forecast for overall gold production to reach 340 tonnes in the year, implying growth of 3% compared with 2018.
Gold production, kg:
H1 2019 | H1 2018 | Change | |
Gold production | 135 347 | 122 502 | +10% |
- mine | 110 535 | 98 673 | +12% |
- byproduct | 9 293 | 7 482 | +24% |
- secondary | 15 519 | 16 347 | -5% |
Gold in concentrates | 6 876 | 5 160 | +33% |
- Novo-Shirokinsky Mine (Highland Gold) | 831 | 1099 | -24% |
- Bystrinsky GOK (Nornickel) | 2699 | 653 | +4,1-fold |
- Silver of Magadan (Polymetal) | 320 | 242 | +32% |
Polyus | 3 026 | 3 166 | -4% |
Total mine, byproduct | 126 704 | 111 315 | +14% |
Secondary (scrap) | 15 519 | 16 347 | -5% |
Total | 142 223 | 127 662 | +11% |
Top 20 Russian enterprises by gold production in H1 2019, kg:
Ranking | Company | H1 2019 | H1 2018 | Change |
1 | Polyus | 38 890 | 33 360 | +16% |
2 | Polymetal | 15 680 | 15 540 | +1% |
3 | Kinross Gold | 8 150 | 7 540 | +8% |
4 | Petropavlovsk | 7 000 | 6 180 | +13% |
5 | Uzhuralzoloto (UGOL) | 5 910 | 6 710 | -12% |
6 | Nordgold | 5 830 | 3490 | +67% |
7 | Highland Gold | 3 600 | 3 730 | -3% |
8 | Vysochaishy (GV Gold) | 3 540 | 3 980 | -11% |
9 | Pavlik | 3 100 | 3 390 | -9% |
10 | Seligdar | 2 150 | 1 310 | +64% |
11 | Gold of Kamchatka (Renova) | 1 650 | 1 770 | -7% |
12 | Susumanzoloto | 1 550 | 1 470 | +5% |
13 | Zapadnaya | 1 410 | 1 480 | -5% |
14 | Sibzoloto | 1 310 | 1 120 | +17% |
15 | Priisk Solovyevsky | 920 | 920 | 0% |
16 | Okhotsk Mining and Geological Co Co * | 920 | 480 | +92% |
17 | Rudnik Karalveem (Leviev Group) | 850 | 830 | +2% |
18 | Vitim | 850 | 800 | +6% |
19 | Arbat | 820 | 700 | +17% |
20 | Amur Gold | 790 | 570 | +40% |
* Part of Polymetal Group in 2018
Silver production in Russia fell 7% year-on-year in H1 2019, the Union said.
Mine supply fell 2% to 221.29 tonnes, plus 159.64 tonnes from byproduct silver, up 1%, while silver production in commercial concentrates was level with a year previously at 265.94 tonnes. Silver production from scrap fell 38% to 76.52 tonnes, mainly due to lower output at the Prioksky Nonferrous Metals Plant.
The Union's president, Sergei Kashuba, said the forecast for overall silver production in 2019 remained 1,600 tonnes, which is 5% less than in 2018.
The Silver Bear Group's Mangazeisky unit commissioned a mine at the Vertikalnoye deposit in Yakutia at the beginning of September. Investment in the mine came to 7 billion rubles and projected capacity is 110 tonnes of ore or 75 tonnes of silver per year.
Russian silver production, kg:
H1 2019 | H1 2018 | Change | |
Silver production | 457,45 | 502,65 | -9% |
- mine | 221,29 | 226,50 | -2% |
- byproduct | 159,64 | 158,27 | +1% |
- secondary | 76,52 | 122,88 | -38% |
Silver in concentrates sold outside Russian customs territory: | 265,94 | 266,63 | 0% |
- Novo-Shirokinsky Mine (Highland Gold) | 15,91 | 17,31 | -8% |
- Silver of Magadan (Polymetal) | 250,03 | 249,32 | +0% |
Total mine, byproduct | 646,87 | 651,40 | -1% |
Secondary (scrap) | 76,52 | 122,88 | -38% |
Total | 723,39 | 774,20 | -7% |