Tag Archives: metals and mining

Kazatomprom says will reduce output in 2021

FEB. 1 2021 (The Bulletin) — In production guidance for 2021, Kazakh uranium producer Kazatomprom said that it would continue to reduce output in line with a plan put forward in 2018 to boost uranium prices. It also said that its output had been hit by the coronavirus pandemic and that it had been forced to suspend production at two sites in Turkestan, south Kazakhstan. Kazatomprom has a listing on the London Stock Exchange and is the world’s biggest uranium miner.

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— This story was first published in issue 471 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2021

Anglo Asian Mining takes control of mines in Nagorno-Karabakh

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JAN. 22 2021 (The Bulletin) — Anglo Asian Mining, the gold mining company part-owned by the Azerbaijani government, said that its ownership of three potential mines in Nagorno-Karabakh had been “restored” to it. Azerbaijan defeated Armenia in a six-week war for control of the disputed region last year.

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— This story was first published in issue 469 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2021

Chaarat says beats 2020 output expectations

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JAN. 21 2021 (The Bulletin) — London-based Chaarat Gold said that it had exceeded production expectations at its Kapan mine in Armenia. In a media interview, Chaarat CEO Artem Volynets said that despite a war between Azerbaijan and Armenia over Nagorno-Karabakh and a coup in Kyrgyzstan that could have destabilised its Kyrgyz operations, Chaarat had had a decent year.

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— This story was first published in issue 469 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2021

Coronavirus forces closure of Kazatomprom mines

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JAN. 20 2021 (The Bulletin) — Kazatomprom, Kazakhstan’s majority state-owned uranium miner, suspended operations at two of its mines in the south of the country after workers tested positive for the coronavirus. Kazatomprom didn’t say how many workers had contracted the coronavirus at its sites in the Turkestan region, nor for how long they will be closed for. Kazatomprom also didn’t say what effect the closures would have on output.

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— This story was first published in issue 469 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2021

KAZ Minerals says that H1 copper output was higher than expected

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JULY 30 (The Bulletin) — KAZ Minerals, the Kazakhstan-focused and London-listed, copper producer said that output for the first half of the year was higher than expected. It said that copper production was up by 4% and that gold production was up by 25%. Importantly, it said that while the coronavirus pandemic had not disrupted its operations so far a second lockdown in Kazakhstan had “heightened risk”. Kazakhstan went into a second lockdown in early July.

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— This story was published in issue 455 of the Central Asia & South Caucasus Bulletin, on July 31 2020.

— Copyright the Central Asia & South Caucasus Bulletin 2020

Central Asia Metals cancels dividend payout

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APRIL 1 (The Bulletin) — Central Asia Metals, which produces copper in Kazakhstan, scrapped plans to pay a final dividend for 2019 and said it would reduce expenditure this year to try to save cash. The company, which is listed on the London Stock Exchange, said that a drop in commodity prices because of the spread of the coronavirus had forced it to change its plans.

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— This story was first published in issue 441 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Lydian says court backs it in dispute with government

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FEB. 27 2020 (The Bulletin) — Toronto-based Lydian International said that a court in Armenia had dismissed eight of 10 criticisms of its operations at the Amulsar gold mine in the south of the country, including that it had mined illegally and that protected and near-extinct animal species had been found on its site. Lydian has been stopped since June 2018 from accessing the mine by protesters who have blocked the access road. They have complained that Lydian’s operations were ruining the environment, a standpoint that the Armenian mining inspection body agreed with in August 2018. Lydian said the rulings were politically motivated at the time.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Azerbaijan says it wants to boost gold production

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FEB. 24 2020 (The Bulletin) — Azerbaijan’s state-owned gold mine AzerGold said that it was exploring two new gold mining areas that could be commissioned as mines by 2021. The areas, in the Western Dashkasan region, have already been scoped out and identified as potential sites. Azerbaijan is trying to diversify away from the oil and gas sectors. Last year, Azerbaijan’s gold production grew by 33.2% from 2018.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Lydian extends protection from its creditors

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JAN. 3 2020 (The Bulletin) — Lydian International, the mining company developing the Amulsar gold mine in Armenia, said that it had extended its protection from creditors scheme by three weeks to Jan. 23. Lydian said at the end of last year that its creditors had told them that they would not be extending their credit lines. Lydian has not accessed the Amulsar mine since June 2018 because of protests that it says the Armenian government has been unwilling to clear.

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— This story was first published in issue 433 of the weekly Bulletin on Jan. 13 2020

— Copyright owned by the Central Asia & South Caucasus Bulletin

Uzbekistan to supply Japan with uranium worth $1b

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JAN. 8 2020 (The Bulletin) — Uzbekistan signed a deal with Japan to supply uranium worth $1b to Japan between 2023 and 2030, a deal that highlights Uzbekistan’s status as one of the world’s top uranium producers. Neighbouring Kazakhstan is considered to be the world’s biggest uranium producer.

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— This story was first published in issue 433 of the weekly Bulletin on Jan. 13 2020

— Copyright owned by the Central Asia & South Caucasus Bulletin