China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Polymetal International has made several trial shipments of precious metals concentrates to Japan and South Korea and is planning talks on further supplies, Polymetal’s CEO Vitaly Nesis said in an interview.
The trial shipments were made from the Goltsovoye and Dukat deposits in Magadan Province. The majority of the concentrate from this area is being exported to Kazakhstan.
Gold concentrate from the Albazino deposit is being sold to China.
The Amur mining plant will produce over 12 metric tons of gold per year as of 2014, Nesis said. When it reaches maximum capacity, all the concentrate from the Albazino and Mayskoed deposit will be shipped to the plant.
Experts estimate that Polymetal will supply 90,000 ounces of gold concentrate to China in 2012.
Source (Russian): Prime Gold
