Mining

Russian Companies to Break into Brazilian Market

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Nov. 8 – The Russian gas giant Gazprom opened an office in Rio de Janeiro last week, while another Russian oil producer TNK-BP announced an agreement to buy 45 percent of the Solimoes Basin project for US$1 billion from the Brazilian HRT Participacoes em Petroleo.

TNK-BP and HRT Participacoes em Petroleo will jointly produce oil and gas from fields near the Amazon, with first output expected next year.

“The discovery of major hydrocarbon deposits in Latin America and the high growth rates of natural gas consumption there provide for an effective development of partnership relations,” The Moscow Times reported a Gazprom official as saying. Continue reading…

Russia May Triple Gold Exploration

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Oct. 20 – Canadian Kinross Gold Corp suggests Moscow should ease its subsoil legislation in order to triple the current investment in geological explorations for gold to US$1.6 billion a year.

Tye Burt, president and CEO of Kinross, the largest foreign investor in Russia’s gold sector, presented proposals on Monday within the framework of a meeting of the advisory council chaired by Prime Minister Vladimir Putin. Continue reading…

Evraz to Construct New Coking Coal Mine in Siberian Kemerovo Region

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Aug. 23 – Russian steel-maker Evraz Group has started construction of the Yerunakovskaya-VIII coking coal mine within its existing coal mining division Yuzhkuzbassugol in Russia’s Siberian Kemerovo region, the company said in a press release. Construction of the new mine will increase the level of vertical integration, providing its steel-making facilities with high quality coking coal.

According to the company’s statement, the total investment in the project will amount to approximately US$590 million spent over the next three years. The coal mine is planned to start operations by mid-2013. Continue reading…

Norilsk Nickel Corporate Airlines to Commence Regular Flights from Krasnoyarsk

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Jul. 5 – OJSC MMC Norilsk Nickel, the world’s largest producer of nickel and palladium, announced the commencement of regular domestic and international flights of Taimyr Corporate Airlines (NordStar) from the Central Siberian city of Krasnoyarsk.

According to a company press-release, expanding the geographic span of flight routes is conducted in accordance with the airline communication development cooperation agreement concluded between MMC Norilsk Nickel and the government of the Krasnoyarsk region in 2010. Continue reading…

Arctic Port of Dudinka Resumes Operations after Spring Flooding

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Jun. 8 – Russian metals giant Norilsk Nickel resumed shipments from its Arctic port of Dudinka after flooding prompted a seasonal halt. The port of Dudinka, the company’s main export outlet, resumed its operations on Sunday, Norilsk said in a press release.

Suspension of loading operations at Dudinka takes place annually in May and lasts approximately one month. During that period, Norilsk Nickel continues to fulfill its delivery obligations regardless of the timing of the commencement and completion of this planned operation. Continue reading…

Russia’s Largest Copper Deposit to Start Excavation Work

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Apr. 27 – After decades at a standstill, engineers and geologists of LLC Baikal Mining Company started excavations in Russia’s largest copper deposit of Transbaikalia Region (Zabaikalsky krai) in East Siberia and hope the project will secure the region’s prosperity in the future.

Russia’s mining and steel company Metalloinvest, together with state-run Rostekhnologii, will carry out the project, which will need around US$5.3 billion in investment. Continue reading…

Canada’s Uranium One to be Listed on Russian MICEX

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Apr. 8 – Uranium One Inc., a Vancouver-based producer controlled by Russia’s Atomredmetzoloto (ARMZ), is considering listing in Moscow to attract investors from Russia and Asia.

“Most of our shareholders are in North America. We would like to expand our shareholder base, particularly in Asia. We are considering a listing in Moscow,” Fletcher Newton, an executive vice-president of the company, said in an interview this Wednesday. Continue reading…

Mitsui and Sumitomo to Invest in Siberian Rare Earth Deposits

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Feb. 14 – Mitsui & Co. and Sumitomo Corp. may invest in Siberian rare earth deposits, Sakha Yakutia Republic Governor Yegor Borisov said to reporters.

Japan´s second and third-biggest trading companies have held talks with regional officials about niobium and scandium resources in Yakutia, an area of northeastern Russia roughly the size of India.

In November, the Sakha Republic delegation headed by Yegor Borisov paid a visit to the Japanese business community and government officials, presenting the unique mining opportunities of the region, including rare earths. Continue reading…

Norilsk Nickel to Restart its Lake Johnston Nickel Ops in Australia

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Dec. 7 – Russia’s Norilsk Nickel, the world’s top nickel and palladium producer, has said it will restart its idle Australian asset Lake Johnston, which mines sulphide ore and produces nickel concentrate.

The decision was announced during a business trip of the General Director of MMC Norilsk Nickel Vladimir Strzhalkovsky to the company’s Australian assets. Continue reading…

China to Invest in Russian Coal Producing Market

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Oct. 26 – China will issue a US$6 billion credit line to Russian coal producers for the development of greenfield coal deposits, Deputy Energy Minister Anatoly Yanovsky stated on Monday.

“There will be a credit line opened and those companies that are interested in shipping coal to China … will reach an agreement,” Yanovsky said. Continue reading…

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