It says 33 vacancies but I think that some are duplicated because they list different locations which is perhaps for advertising reach? Anyway, in addition to the “Mountain Master” job there now seems to be adverts for Excavator and Bulldozer drivers amongst a couple of others…are these needed for care and maintenance?
https://ekaterinburg.hh.ru/search/vacancy?from=employerPage&employer_id=8964792&hhtmFrom=employer
What were the one off costs in 2022 Offler and how do your figures look when taking these investments into account?
“Electric dragline, power line and high voltage substations were the final CAPEX items to optimise and sell the asset, with no further investments envisaged going forward”
Admittedly the BoD need to show some return from these investments in 2024 since they didn’t produce in 2023 seemingly while the tax case was underway so will be interesting to see if there’s some news on this soon.
I don’t remember seeing a this job before. It’s dated 27/03 but other jobs have been re posted before so may not be new. I’d also be wary since we don’t know if the site is genuine but looks like it could be interesting if it’s a real. Apologies if this has appeared before.
Mountain master
from 80,000 ₽
on hands
Required work experience: 1-3 years
Full-time, Rotational method
This vacancy is currently being viewed by 2 people
Reply
ZAO Kosvinsky Kamen
No feedbacks
Krasnoturyinsk
Write a phone number so that the employer can contact you
Continue
By clicking "Continue", you confirm that you fully accept the terms of the Employment Assistance Services Agreement (offer) and have read the privacy policy
Duties:
Development of alluvial deposits in the open way.
Distribution of equipment and personnel.
To instruct workers in production.
To ensure control over the quality performance of the assigned work, economical use of raw materials, materials, electricity, compliance with the rules of technical operation of electrical equipment, mechanisms, industrial sanitation.
Issue an order for work to work shift workers.
To ensure that the site performs tasks on the quality and volume of work within the prescribed time frame.
Check the safety status of all workplaces during the shift, etc.
Requirements:
Higher or secondary technical education in the mining profile;
Experience from 1 year as a mining master in the open pit mining area;
Possession of skills of operational exploration of alluvial fields.
The terms:
Official employment, according to the Labor Code of the Russian Federation.
Work on a rotational basis 20/10,
Place of work: Sverdlovsk region, 20 km from the city. Karpinsk.
Accommodation in a shift camp.
Meals in the canteen at the expense of the employer.
Provision of workwear.
Ask the employer
He will receive it with a response to the vacancy
Where is the place of work?What's the work schedule?Is the vacancy open?What's the salary?How can I contact you?Another question
Vacancy published on March 27, 2024 in Krasnoturinsk
https://ekaterinburg.hh.ru/vacancy/95650039?from=employer&hhtmFrom=employer
I do know how much Pd is used in solar (believe that there is an application) but big green projects like this in general show India’s potential in terms of the environmental aspect.
There’s been some stories about Indian companies starting to refuse types of Russian oil due to sanctions but with PGMs not being sanctioned, what’s to stop an Indian company agreeing to buy through a long term contract either direct with a Russian miner or via a commodities trader.
https://edition.cnn.com/2024/03/19/business/india-adani-green-energy-plant-climate-intl-hnk/index.html
Seems there’s going to be a tweak as to how initial exploration is conducted.
https://www.interfax.ru/business/951477
I think this video of MT shows what the problem might be…
https://m.youtube.com/watch?v=kaWnMCEAJ9U
Clearly the “For Sale” sign blew over some time before the video was made and no-one realised.
Maybe if some let’s Yellow Jersey know they’ll pass it on to the BoD then we should get some offers in when the new sign is up.
Might be risky for a large co to invest directly but who knows…could equally have a Russian miner we’ve not heard of with a long term offtake with a commodities buyer who in turn has contracts with an Essar or similar. Amounts to the same thing in that the money ultimately comes from the end user but might remove some risk.
It did sound like a strange pivot but makes sense if some assumptions are right - trading house may have been the credible party and wanted the PGMs via offtake. EUA had access to land on preferable terms via ERDC and incidentally could use hydrogen for its own purposes, and supply hydrogen to the trading house which would fit in if the trading house was Japanese.
Obviously that’s all guessing and could be pie in the sky with the hydrogen aspect being funded using another raise but then we didn’t list on MOEX, had the due dil RNS and KK becoming a NED with his links.
Seemingly irrelevant now anyway as can’t see any way we could progress Sakhalin in these conditions and from what we’ve been told we’re back to selling the Russian assets.
2 projects getting some press over the past couple of days. First link looks to be for Green Hydrogen, second for Blue Hydrogen:
In the summer, a pilot landfill for hydrogen production will be launched on Sakhalin
https://www.interfax.ru/russia/949167
Rosatom will launch a hydrogen plant in Sakhalin in 2029
https://www.interfax.ru/russia/949077
Sakhalin seems to be a distant memory for EUA but FWIW South Korea is still mentioned along with China and other Asian countries as a potential buyer for the output with discussions ongoing.
I don’t think this is relevant to EUA based on what we’ve been told about selling the Russian assets, but it shows Russia is trying to sell commodities to one of the countries that’s supplying Ukraine. Perhaps they expect the political situation to improve by the time the projects come online.
Rosgeo was sanctioned by the US on Friday so we should get an update as to if there is an impact from that. I don’t know one way or another as to how sanctions work and if this has any relevance but given we have the transferable option, I’d expect a clarification update one way or another.
Is this new?
Precinct geologist
from 70,000 ₽
on the hands
Required work experience: 1-3 years
Full-time, rotational method
Temporary registration is possible: contract of services, contract, GPC, self-employed, IE
Area of activity: Field development
Duties:
Conducting geological exploration works related to the search, assessment, exploration and production of TPI;
Geological support of open-pit field development: geological documentation, ordinary and technological testing;
Preparation of materials and data for accounting of balance stock movement, prompt recalculation of reserves;
Preparation of field generalizing geological materials (plans for testing sections, etc.)
Requirements:
Higher education.
Confident PC user (knowledge of Office, AutoCad
The terms:
- Stitute method of work.
Place of work: Sverdlovsk region, Karpinsky district, p. Kytlym, 20 km to the west. Tylai-Kosvinskoye alluvial field.
Work schedule: 15 in 15 days.
Salary: from 60,000 rubles.
- Accommodation in a shift camp, 3 meals a day at the expense of the employer.
https://ekaterinburg.hh.ru/vacancy/92478271?hhtmFrom=vacancy_search_list
Moscow. February 19. INTERFAX.RU - Polymetal has concluded an agreement to sell its Russian business in the person of JSC "Polymetal" to the company "Mangazeya Plus" - the structure of "Mangazeya" by Sergei Yanchukov.
According to Polymetal, Russian assets are estimated for the transaction at $3.69 billion, including $2.21 net debt. Polymetal itself will pay dividends of $1.429 million to Polymetal before the closing of the transaction, of which $278 million will be used for corporate purposes and $1.151 million for the full repayment of intra-group debt. The cash reward from the buyer will be $50 million.
The closing of the transaction is subject to a number of urgent conditions, including regulatory approvals and shareholder approval. Polymetal expects the deal to be closed by the end of March.
The meeting of Polymetal shareholders, to which the issue of approval of the transaction was submitted, is scheduled for March 7.
Based on the terms of the transaction, cash receipts in favor of Polymetal are estimated at $300 million. The Board of Directors intends to use these funds to finance the construction of the Irtysh MMC in Kazakhstan and improve the liquidity of the group. If the board of directors approves the project in the second half of 2024, MMC will be launched in 2028. The terms of the transaction with Mangazeya involve, among other things, a tolling agreement, according to which the concentrate from the Kazakhstan asset Polymetal Kyzyl before the launch of the Irtysh MMC will be processed at the Amur MMC, which will be transferred to the new owner as part of Polymetal JSC.
As for Russian assets, the buyer said that the current team of Polymetal managers headed by General Director Sergei Cherkashin will continue to manage them. "We intend to support existing management in implementing strategic goals to maintain business sustainability. All enterprises will continue to work as usual, obligations to the state, local communities, creditors, partners and employees will be fulfilled in full," Yanchukov said (his words are quoted in the message of JSC Polymetal).
Polymetal is Russia's largest silver producer and one of the leading gold miners. The enterprises are located in the Magadan and Sverdlovsk regions, Khabarovsk Krai, in Yakutia, in Chukotka. In addition to business in the Russian Federation, Polymetal owns assets in Kazakhstan. The largest shareholder of Polymetal is a consortium of Omani investors led by the Omani government-owned Mercury Investments International (about 24%).
"Mangazeya Plus" is a structure created for the transaction by the Russian company Mangazeya Mining, which is part of the Mangazeya group of Sergei Yanchukov. Mangazeya is among the top 15 Russian gold miners, production assets are located in the Trans-Baikal Territory. In addition to gold mining, the group is engaged in development, agriculture and other business.
Could be an infestation of “Russian Desman” moles:
“The largest is the Russian desman (Desmana moschata) of central Eurasia, which weighs 100 to 220 grams (3.53 to 7.76 ounces) and has a body 18 to 22 cm (7 to 9 inches) long and a tail nearly as long. The nine species of Old World moles”
BoD should clarify…
I’m speculating but maybe the Asian customers they were seeking to replace the European customers may have been wary of secondary sanctions if Rostec were involved.
Below is from December:
“Initially, the project was aimed at European consumers. For obvious reasons, the situation has changed. Now the company is working on identifying consumers in Asia.”
https://www.interfax-russia.ru/northwest/exclusives/gubernator-murmanskoy-oblasti-andrey-chibis-region-privlek-perspektivnye-portovye-i-sudoremontnye-proekty
No evidence to suggest that’s the case (Rostec could have left for any number of reasons) or if the project has secured any Asian customers yet but could be interesting to keep an eye out for news on this given the similarities.
None on face value other than it’s a large PGM project in Murmansk which has seen a change in owners for 25% of their shares so shows some activity.
Why Rostec exited and what Oleg Seleznev paid would be interesting to know generally.
Throwing it out there as it’s on today’s interfax newsfeed.
Https://www.interfax.ru/business/945894
ECONOMICS
17:28, february 13, 2024
Rostec withdrew from the project on the Fedorov tundra platinum and palladium field
Moscow. February 13. INTERFAX.RU - Rostec withdrew from the project to develop the metal deposit of the platinum group (MPG) of the Fedorov Tundra.
According to the Unified State Register of Legal Entities, the 25.1% stake in the company "Fedorovo Holding", which previously belonged to the structure of "Rostec" "RT-Business Development", in mid-January changed the owner: most of it, 24.9%, was received by Oleg Seleznev, former member of the board of directors of Chelyabinsk Pipe Rolling Plant (ChTPZ), a minority share of 0.2% - Andrey Grishin.
Rostec confirmed that the state corporation withdrew from the project.
Another 74.9% of Fedorovo Holding is owned by Fedorovo Minerals, whose shareholder, among others, is the former owner of ChelPipe Andrey Komarov (19%). In early 2022, Komarov gained control of the Fedorov tundra project, but soon handed it over to his partners.
The Fedorov Tundra field is located in the Murmansk region and is considered one of the largest palladium and platinum deposits in Europe. The project provides for the construction of a mining and processing plant for the extraction and enrichment of copper-nickel and platinum ore by 2027.
Apologies I was out of date - exit tax increased to 15% in October with no plans to change this when the below was published in Jan:
https://www.interfax.ru/russia/939418
My understanding is that if an asset is sold for no less than 50% of its assessed value (as assessed by the committee) then a 10% exit tax is applied. If the sale price is less than 50% then the tax increases to 20% of the sale price. I may be out of date but that’s what I understood it to be.