Subsidiaries of Auriant Mining AB have received notifications about the need to restore production at the Staroverinskaya area in the Zabaikalsky Krai and the Tardan deposit in Tuva. The organizations must bring production to the level stipulated by the design documentation within a year.
The company reported that the Commission for the Revocation of Subsoil Use Rights under Rosnedra considered the issue of revoking subsoil use licenses. If violations are not corrected, the commission will cancel the subsoil use rights under the licenses of Tardan Gold LLC and GRE-324 LLC upon expiration of the terms. It is noted that the revocation of a subsoil use license will mean that all gold mining and exploration activities in accordance with such a license must be terminated.
Recall that in the first nine months of 2024, Auriant Mining enterprises reduced gold production by 29%, to 365.3 kg. Thus, the main decrease occurred at the Tardan ore deposit, where 328.2 kg of gold were mined in the reporting period (-35% year-on-year). The company reported a 30% reduction in ore production volumes and a 34% decrease in grades. At the same time, production at the Solkokon placer (Staroverinskaya area) increased by 151% and amounted to 37.2 kg.
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Auriant Mining is a Swedish company focused on geological exploration and gold mining in Russia. The company’s asset portfolio includes operating enterprises at the Tardan deposit in Tuva and the Staroverinskaya area in Transbaikalia. At the Tardan deposit, there is a gold recovery plant with a design capacity of up to 700 kg of gold per year, at the Staroverinskaya area, the company planned to develop and obtain up to 600 kg of ore and placer gold.