Nordgold Alexey Mordashov put up for sale two mines in Buryatia
PAO "Buryatzoloto" (part of Nordgold) is planning to sell the mines "irokinda" and "Chalbinski" Buryatia, said the Bulletin Gold mining the government of the Republic.
On the basis of mines in April of this year created a separate legal entity: LLC "irokinda" and "the Zun-holba". "We have information that "Zun-Holba" already has a buyer, we even know who it is," said a spokesman, declined further comment.
the press service of the Nordgold also did not disclose the details of a possible sale. "We are currently evaluating our assets, both existing and projects to optimize portfolio. In this process, the company may consider selling certain assets".
"Buryatzoloto" provides the major share of gold ore mining in Buryatia, the other manufacturer is OOO And "Western" (Kedrovsky mine). In the first 9 months in Republic it was extracted 1,436 tons of gold ore, which is 16.4% less than the previous year.
In the Republican Ministry of natural resources attribute this to the reduction in gold content in the produced "Buryatzoloto" rude. "Mine "Chalbinski" the actual gold content is 1.5-2.0 grams per tonne with a planned 4 grams. Mine "irokinda" in fact, the content of 4 grams at a plan of 5.2 grams per tonne", the newspaper quoted the "Number one" the Minister of natural resources of the Republic of Vadim Kantor, speaking at a meeting of the working group Hural (local Parliament) on the budget.
According to Cantor, on "Zun-Holba" the deal is almost concluded, the company will be sold. "As further events will develop on this mine, we don't yet understand, accordingly, that the planned volume, which was at the Zun-Holba from its forecast excluded. At the very least, this guide assures that the new owner is determined to continue to work", he said.
"Buryatzoloto" in 2018 extracted 64,7 million ounces of gold, which is 15% less than in 2017. However, the company reported that by the end of 2019 will complete the upgrade ZIF mine at the irokinda mine.
Nordgold owns ten operating mines (five in Russia, three in Burkina Faso, one in Guinea and Kazakhstan). Nordgold also has several promising projects under feasibility study in Burkina Faso, Russia, French Guiana and Canada. In 2018, the company decreased gold production by 6% to 907 thousand ounces (28.2 tons).