Russian Gold Mining Expansions

Source:

"Several leading Russian miners increased output last year and a series of ambitious expansion. . .envisages production rising by another 20% by 2015."

Russia boosted gold output by 13.3% last year to 184.49 tonnes (5.93 million ounces), reversing five consecutive years of decline, data from the Russian Gold Industrialists' Union shows. [ID:nLU262708]

Valery Braiko, the union's head, forecast output from Russia's mines would remain steady this year, with the possible addition of 1 to 2 tonnes.

Russia's gold reserves are second only to South Africa's, but the country traditionally ranks fifth or sixth in the world in terms of actual production.

Several leading Russian miners increased output last year and a series of ambitious expansion plans in Siberia and the Far East envisages production rising by another 20% by 2015.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe