Irkutsk-based Service TechnoProm LLC has built Russia's biggest centrifugal concentrator for the mining industry, the Irkutsk regional government's press service said. "This equipment is designed to extract gold, platinum and other valuable metals when ores from hardrock deposits are processed. The Irkutsk model's capacity is up to 1,000 tonnes per hour, and there are very few concentrators like it in the world today," the report says, quoting Nikita Kiselev, CEO of Service TechnoProm. The equipment ...

Russian President Vladimir Putin pointed out that gold prices are at an all-time high at a meeting with Yury Chikhanchin, the head of the Federal Financial Monitoring Service or Rosfinmonitoring. "Historic high [for the price of gold]," the Russian leader said in response to Chikhanchin’s assertion that gold prices remain elevated, creating an opportunity to make big profits from buying and selling the precious metal. The Head of state also pointed to the trend of the growing use of gold in ...

South Korean Samsung Display has stopped purchasing Russian gold, tungsten and tantalum, according to the company's reports. Previously, these metals were supplied by Krastsvetmet, Solikamsk Magnesium Plant (part of the mining division of State Corporation Rosatom) and other Russian enterprises. Experts do not rule out that the refusal may lead to an increase in the cost of electronics by 2-5%. Samsung Display, part of Samsung Semiconductor, makes screens for smartphones, including the Apple ...

The price of gold futures for June 2025 delivery on Comex (a division of the New York Mercantile Exchange) has risen above $3,200 per troy ounce, according to exchange data. At 01:33 Moscow time, the precious metal was trading at $3,209.7 per troy ounce (+2.17%). By 01:48 Moscow time, gold accelerated its gains, reaching $3,212 per ounce (+2.24%). Gold futures previously hit a historic high on April 2, surpassing the $3,200 mark. At 23:29 Moscow time that day, the price rose 1.12% to $3,201.6 ...

In the last month of winter, the United States bought the largest amount of platinum from Russia in the past four months. This was reported by RIA Novosti, citing U.S. Customs data. The transaction amounted to $91.8 million. Notably, imports of this precious metal into the U.S. have increased for three consecutive months, with a 8.3% rise in February. As a result, Russia managed to retain its position as the second-largest supplier of platinum to the American market. South Africa remained in ...

Nornickel is the world’s largest palladium supplier, and Krastsvetmet, is one of the world’s leading producers of precious metals and related products, showcased a new glass feeders technology with palladium alloy in Shanghai. This innovation is expected to significantly reduce ownership and maintenance costs for fiberglass producers. The presentation supported by the China Precious Metals Industry Committee (CPMIC), brought together key industry players, including the China Forging Industry ...

Nornickel is the world’s largest palladium supplier, and Krastsvetmet, is one of the world’s leading producers of precious metals and related products, showcased a new glass feeders technology with palladium alloy in Shanghai. This innovation is expected to significantly reduce ownership and maintenance costs for fiberglass producers. The presentation supported by the China Precious Metals Industry Committee (CPMIC), brought together key industry players, including the China Forging Industry ...